Calls for lifestyle audits on rich South Africans living in mansions and driving expensive cars
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The South African Revenue Service (SARS) should ramp up lifestyle audits for wealthy South African, says the chairperson of the Tax Review Committee Judge Dennis Davis.
In an interview with
702, Davis said that the revenue collector currently faces a shortfall of between R50 billion and R100 billion a year.
He said that the tax tables show that only around 5,000 – 6,000 South Africans report taxable income of more than R5 million, and that lifestyle audits on wealthy individuals could help make up this shortfall.
“Drive around Clifton, Camps Bay, Bishop’s Court, Bryanston and Sandton and count how many houses there are that have to have that level of income for the upkeep.