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Tax season has arrived & while SARS commissioner, Edward Kieswetter, has aptly reminded us all to pay our taxes. Why the focus on ordinary citizens when corporate tax avoidance/evasion amounts to over R7bn a year?
moneyweb.co.za/mymoney/moneyw…
moneyweb.co.za/mymoney/moneyw…
According to 2 groundbreaking studies on corporate tax avoidance in SA, mining companies & financial service firms are the biggest culprits of tax avoidance. This should probably be unsurprising as these corporates are serial offenders in economic crime.
businesslive.co.za/fm/features/20…
businesslive.co.za/fm/features/20…
Given consultancy firm, Bain & Co's disastrous restructuring of SARS which resulted in R100bn decline in tax revenue, corporate criminals should be high on SARS' agenda.
The criminal & civil charges against Bain & Company are a great step towards accountability- R216mil returned is simply not enough. We hope that SARS & Treasury will continue to pursue criminal accountability for corporate criminals!
mg.co.za/article/2019-0…
mg.co.za/article/2019-0…
Data by Ludvig Wier reveals that the biggest multinationals avoid 80% of tax. They do this by "profit shifting" lowering their tax bill by moving their profits from high tax countries to low-tax countries, i.e. tax havens. 
Beyond avoiding paying taxes themselves, accounting/auditing firms also help their corporate clients avoid taxes. This "consulting" has detrimental effects on social spending.
Our #ABCsofEconomicCrime also covered how multinational companies, corrupt politicians, organised crime groups, terrorists, drug & human traffickers with the aid of lawyers, accountants & banks use tax havens & shelf companies to avoid paying taxes.
