Call for input on wealth taxes

The Davis Tax Commission invites submissions on the desirability and feasibility of possible forms of a wealth tax in South Africa: a land tax, a national tax on property (over and above municipal rates) and an annual wealth tax on individuals.

The commission was formed in 2013 to inquire into the role of the tax system in the promotion of inclusive economic growth, employment creation, development and fiscal sustainability.

Currently, South Africa has three forms of wealth taxation: estate duty, transfer duty and donations tax, which together bring in about one percent of tax revenue.

The commission invites submissions on the wealth taxes by May 31. Based on the written submissions received, there will be a workshop for oral submissions during June.

Submissions may be emailed to taxcom@sars.gov.za or posted to PO Box 2344, Brooklyn Square, Pretoria, 0075. – Staff Reporter