No need to raise taxes if Sars can plug gap
The Davis tax committee estimates the annual tax gap is at least R50bn.
The term of office of the committee was extended by finance minister Tito Mboweni in his budget speech in February to enable it to investigate the tax gap. Since then the committee has been working closely with Sars to verify the estimates provided in various completed studies. It has also been looking at the ways that tax evasion and fraud take place.
Davis said the amount lost due to VAT fraud and tax evasion by high-net-worth individuals has not yet been quantified. “If you take all of that, a R50bn estimate is very conservative,” he said. Davis said that with Edward Kieswetter as the new Sars commissioner, the committee is getting excellent co-operation in its work from the tax authority. This was not the case under the previous dispensation when Tom Moyane was commissioner.
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