2oceansvibe News | South African and international news

Sponsored by RSAWeb rss
2ov Radio
  • Home
  • About
    • Terms and Conditions
    • Seth Rotherham
  • du Cap Collection
  • Café du Cap
  • Cabine du Cap
  • Media Packs / Advertising
  • Contact
    • Contact
    • Anonymous Tips
    • Twitter
    • Facebook
Seth Rotherham
  • SARS Brings Out The Big Guns To Nab SA’s Wealthiest

    20 Oct 2021 by Jasmine Stone in Galbraith Rushby, Legal, Lifestyle, Partners, South Africa
    Related Posts
    • South African Comedian Introduces New 'Phala Phalaus Taxivadus' Species, Mocking Ramaphosa’s Couch [Video]
    • Thursday Morning Spice
    • Tuesday Morning Spice
    • Make Sure You're Maxing Out These Tax Benefits Before The End Of The Year
    • Looks Like Trevor Noah's Mom Hates Paying Taxes

    [imagesource:here]

    Your average South African doesn’t pay a great deal in taxes to SARS every financial year.

    For the wealthiest – those who fall into the High Wealth Individual (HWI) bracket – it’s a different story.

    In May, SARS announced it was forming an HWI unit.

    A letter from SARS Commissioner Edward Kieswetter outlined nine key objectives, and it’s clear that the unit has been established to enhance tax compliance among and increase collections from these HWIs.

    This might be a good time to brush up on the difference between tax avoidance and tax evasion.

    SARS has now confirmed that it has appointed Natasha Singh, a chartered accountant with in excess of two decades worth of experience, as the new director of its HWI Segment.

    This via BusinessTech:

    Singh holds a master’s degree specialising in taxation. She joins SARS from Eskom, where she served as Finance Executive: Group Insurance and Tax.

    Image: SARS

    Her appointment is timely as it coincides with recent reports that affect this important segment of taxpayers, including the recently released Pandora Papers, said SARS commissioner Edward Kieswetter.

    Those Pandora Papers, said Kieswetter, highlighted just how skilled some of the world’s wealthiest have become at arranging “their financial affairs in complex on- and offshore structures, often masking their direct beneficial ownership and true income”.

    He went on to say that SARS “will not tolerate willful non-compliance and will make it hard and costly for such taxpayers without fear or favour”.

    According to a 2019 report, around 4 000 of South Africa’s wealthiest citizens have left the country over the past decade.

    If you rank among the elite HWI segment, then congrats, but also be sure to glance over your shoulder because SARS will be sniffing around.

    As always, it pays to make use of the professionals, like those at Galbraith | Rushby, to ensure all the right boxes are ticked.

    [source:bustech]

    • ← Steve-O’s First Acid Trip Was A Very Wild Ride [Video]
    • Nobody Has Cracked The Mystery Of The ‘Putney Pusher’ [Video] →
    • Tweet
    • Tags:
    • galbraith and rushby
    • Galbraith Rushby
    • Galbraith&Rushby
    • Sars
    • tax compliance
    • taxes tax

    Latest News

    • Celebs Are Flocking To This Psychic Who Can ‘See Angels And Talk To The Dead'[Video]

      [imagesource:flickr] Celebrities have been flocking to a UK mom in order to connect wit...

    • Passengers Hold On For Their Lives As Plane Door Opens Midair On Asiana Airlines Flight [Video]

      [imagesource:youtube/independent] As an Asiana Airlines jet was coming in to land in Da...

    • Docuseries Reveals How Small Texas Town Sex Scandal Was Not What It Initially Seemed [Trailer]

      [imagesource:hbomax] A new HBO Max docuseries makes a convincing case that an East Texa...

    • The Mystery Of The Turkish ‘Earthquake Boy’ Who Was Found Wandering Alone 2400km Away

      [imagesource:flickr] Police and social workers are trying to figure out how a 5-year-ol...

    • Word To The Wise – Choose Shoes With A Smaller Environmental Footprint

      [imagesource:here] As a consumer, we can make better choices. Likewise, as a company, e...


    • 2oceansvibe Partners

    • CONTACT US
    • GOT A HOT STORY?
    • 2oceansvibe Radio
    • 2oceansvibe Media
    • Media Pack
    • Seth Rotherham
    • Café du Cap
    • Cabine du Cap
    • Cape Town City Accommodation
    • Terms & Conditions
    • Business
    • Media
    • Entertainment
    • Tech/Sci
    • World
    • Travel
    • Lifestyle
    • Sport
    • Politics
  • Follow

    2oceansvibe.com is part of the 2oceansVibe Media Group

    DMMA Logo