Managers of Wealth Africa

South Africa’s highest tax rate vs the UK, Dubai, Hong Kong and New York

The most relaxed region, Dubai, allows high-income earners to keep all their pay – while Italy ended up taking the biggest slice at 49%.

Tax hikes make rate-hold necessary

SOME experts have expressed confidence that the Bank of Ghana (BoG) will leave its benchmark rate, the policy rate, unchanged tomorrow (Monday) to help dampen the inflationary pressures that the new tax policies portend.

Ghana cannot compete effectively with the introduction of new taxes – John Awuah

The C.E.O emphasized that he finds it worrying to witness the action the government has taken against the banking sector because they, as an institution are equally struggling.

Battle to Overcome Illicit Financial Flows

The magnitude of the resources the world stands to gain by creating financial integrity for sustainable development is enormous.

Bankers protest 5% tax on gross profits

He contended that the tax was ill-timed, wrongly intentioned and targeted, saying that if implemented, it would make the local banking sector the most taxed in West Africa.

Seek public buy-in for the State wealth tax proposal

Given that the country’s tax collection deficit stood at Sh109.9 billion in the first six months of the fiscal year, ramping up collections from this group would go a long way in plugging this gap.

Treasury plans wealth tax to fix July budget

The push to make wealthy individuals pay higher tax rates gained momentum in 2018 but the idea was ultimately dropped.

Taxpayers risk Sh1.2trn burden from government court fights

Legal awards against the State highlight the heavy price taxpayers pay for unlawful decisions by officials.

1.6 million people are paying most of South Africa’s income tax

The firm noted that personal income taxes are collected from an increasingly small pool of taxpayers.

The South African Budget Speech 2021

Personal tax brackets and tax rebates will be adjusted in favour of the taxpayer

South Africa sets up high net worth tax unit

It ‘mirrors similar initiatives in US and a number of European territories’

Government investigating wealth tax for South Africa – what to expect

Government has not given clear guidance on who would be subject to a wealth tax, and the criteria for selection of these persons.

Retirement tax changes planned for South African expats

To overcome this, Treasury intends to tax a retirement fund member when they no longer qualify as a South African tax resident, Keswell said.

Fix the tax tribunal’s flaws

It is high time the Treasury, which appoints members of the tribunal, found ways of fixing the inefficiencies at the judicial body and abuse of its processes by some taxpayers.

Treasury tax deal to unlock Sh133bn from stalled cases

KRA Commissioner-General Githii Mburu last year told Parliament that the agency had witnessed a surge in taxpayers challenging notices for unpaid taxes at the TAT.

COVID-19 and regulatory uncertainty spur greater tax risk for organizations in 2021 and beyond, EY survey finds

Survey respondents say they anticipate a far more diverse tax risk environment spanning everything from scrutiny of routine business activity, to major, billion-dollar settlements in court.

Further evidence that South Africans are trying to get their money out the country

The tax statistics for 2020 show that there are 4,337,923 individual taxpayers in South Africa.

Is a corporate excess profits tax on the cards?

Rather than increase taxes for citizens – who have reached their taxation ceiling – an unprecedented solution may be in order.

Consulting freeze to ‘restore pride’ in KPMG auditing

Decision gets stamp of approval of Corruption Watch’s David Lewis, wo urges other audit firms to follow KPMG’s lead

South African High Earners’ Exodus May Limit Room for Tax Hikes

The small tax base is a symptom of South Africa’s extreme inequality, a legacy of the apartheid system of racial discrimination that disadvantaged the Black majority and ended in 1994.