SARS' unit that tackles illicit financial flows has recovered R2.6bn in taxes since April 2019.
SARS says it will extend the deadline for a tender aimed at securing a service provider to help curb the illicit tobacco trade.
New legislation will make it a lot more difficult to hide tax money, which will have a major impact on multinationals who use transfer pricing to dodge tax.
South Africa is failing to tackle illicit financial flows and losing billions in potential tax revenue, says Yunus Carrim, chair of the standing committee on finance in Parliament.
The Hawks is investigating 394 cases of illicit tobacco trade, Parliament has heard.
South Africa's Reserve Bank is facing a growing challenge of illicit financial flows and money laundering from gangs and errant businesses hell-bent on tricking regulators.
Finance Minister Malusi Gigaba has vowed that government will crack down on illicit financial outflows as he attempts to find extra revenue to keep the country within its fiscal ceiling.
Matthew Salomon, senior economist at Global Financial Integrity in Washington, DC, told City Press that Eunomix’s work does not invalidate their research.
An inter-parliamentary committee will demand answers from criminal prosecuting authorities about progress made in cases of illicit financial flows.
The R200m claim relates to a single case investigated by project Honey Badger.
Tighter controls by SARS to fight illicit trade of cigarettes has been welcomed by organisations within the industry.
SARS is cracking down on illicit trade, according to Acting Commissioner Mark Kingon. As it tightens the reins, here's what you need to know about illicit tobacco trade - a contributor to significant losses to the fiscus, and a suspected factor in state capture.
Tobacco industry bodies have raised six concerns about the Control of Tobacco Products and Electronic Delivery Systems Bill, recently gazetted by government for public comments.
SARS has the mandate to clamp down on illicit trade of tobacco products, but if it fails the legal industry will be gone in two years' time, says an industry body.
Finance Minister Gigaba is between a rock and a hard place. He has presidential ambitions, but to get there he'll have to go against President Zuma's wishes, writes Max du Preez.
South Africa has signed several multilateral agreements to combat illicit financial flows, making it more difficult for taxpayers to hide their assets abroad, President Jacob Zuma says.
Mines’ consultants say UN, AU and NGO estimates of illicit financial flows are ‘ideological’ nonsense.
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