Tom Moyane’s article in the Cape Times of December 20,
“SARS will close the R50.8bn shortfall”, is quite a profound statement but unfortunately he does not say how he plans to address the problem, and short of pulling a rabbit out of the hat he has got little chance of increasing revenue collections in the current economic environment.
He suggests that companies have reduced their dividend payments and are holding onto their
cash reserves in the face of higher dividend taxes.
The truth of the matter is that in recessionary times companies do feel the same economic constraints as the general public and the effect thereof is reflected in reduced profits with a consequence of
If Mr Moyane wants to pull a rabbit out of the hat he should read Jacques Pauw’s
The President’s Keepers and by starting with Zuma and investigating
all the other names, including the Guptas, that are set out in the book and I have little doubt that SARS will go a long way in making good the shortfall of R50.8bn.