Wealthy South Africans contribute half of R8bn tax revenue, reveals SARS

Mayibongwe Maqhina mayibongwe.maqhina@inl.co.za

SARS Commissioner Edward Kieswetter has highlighted the complexities surrounding the proposed wealth tax, emphasising that this tax is not an instantaneous solution to the nation’s pressing fiscal challenges. Kieswetter underscored the need for extensive work to lay the groundwork for the initiative. “This is one of the areas where you may need to come back and do a deep dive discussion with members on wealth tax because the first question is, what is a wealth tax? How do we define a tax on the wealthy?” he said. He made the statement during the joint meeting of Parliament’s committees that deal with matters of finance and appropriation on Friday. The meeting was aimed to engage Finance Minister Enoch Godongwana and the National Treasury on the 2025/26 Budget tabled earlier this week.…

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Sunday Independent (Digital) - 1 Issue, 2025-03-16

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