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You can't live in a world without taxation, says Treasury

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Cape Town – Government’s bid to repeal the foreign employment income tax exemption is not a “crazy proposal” compared to other tax jurisdictions, said Ismail Momoniat, Head of Tax and Financial Sector Policy at National Treasury.

Speaking to journalists on the sidelines of a parliamentary briefing on new tax proposals in two separate pieces of draft legislation, Momoniat and his colleague at National Treasury Chris Axelson, director: personal income taxes, emphasised that government will be open to listen to comments and input from stakeholders about the intended tax measure.

“The implications of this repeal can be significant,” Momoniat said, “but the key issue is you can’t live in a world without taxation. If you live in a tax haven and you have connections here in South Africa, you must pay your share.”

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