Submission to the Davis Tax Committee on Macro issues and the Flat tax

13 June 2017
Views 1 000


The Davis Tax Committee was requested by the Minister of Finance to inquire as to whether it would be appropriate to introduce additional forms of wealth taxation and the feasibility of doing so. Currently, South Africa has three forms of wealth taxation, namely estate duty, transfer duty and donations tax which together bring in about 1% of tax revenue. Capital Gains Tax (CGT) is considered by some to be a form of wealth tax but the DTC has taken the view that CGT is a form of income tax. In light of this, the DTC invited submissions the following possible forms of wealth tax: A land tax; A national tax on the value of property (over and above municipal rates); An annual wealth tax.
In this submission, FMF repeats previous arguments made to the DTC about why all taxes should be lower and simpler.
See FMF's submission here

 

Comments on Submission to the Davis Tax Committee on Macro issues and the Flat tax