Business In The News South Africa

Sars hosts global seminar to curb tax evasion

JOHANNESBURG, January 30 – South Africa’s revenue department said on Tuesday it would this week host a global seminar on strengthening the fight against tax evasion.

The seminar, hosted jointly with the Global Forum on Transparency and Exchange of Information for Tax Purposes, and the African Tax Administration Forum, will bring together tax experts, predominantly from developing countries, the South African Revenue Service (SARS) said in a statement.

“Throughout the world, tax authorities are facing immense challenges to collect national revenues and ensuring that everyone pays their rightful taxes in the prevailing global economic climate,” it said.

“In such a globalised world, it has become increasingly important for tax authorities to collaborate by sharing information.”

South Africa has committed itself to the automatic exchange of tax information with revenue authorities of over 50 jurisdictions under the Organisation for Economic Co-operation and Development’s common reporting standard.

 – African News Agency (ANA)

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