• Scaling up successfully

    Making your business larger and more profitable requires the right moves, says Ian Mann.

  • Time to join war effort

    It may be time to join Eskom in its War Room efforts, says Matthew le Cordeur.

  • Foreign friends

    Immigrants bring a powerful injection of energy and talent to SA, says Mandi Smallhorne.

See More

SA to host global tax forum

Nov 10 2011 10:55 Sapa

Related Articles

Cameron: Tobin tax must be global to work

Australia's mining 'super tax' in doubt

DG urges state to cut spending

SARS: More taxpayers opt for e-filing

SA signs multilateral tax evasion deal

Cape Town - South Africa will host the 2012/13 Global Forum on Transparency and Exchange of Information for Tax Purposes annual meeting, government spokesperson Jimmy Manyi said on Thursday.

This had been approved by the cabinet at its regular Wednesday fortnightly meeting, he told a media briefing at parliament.

It formed part of the fight against corruption, money laundering and aggressive structuring.

"This is also aimed to ensure that this whole thing about tax havens and all of that comes to an end - people opening all kinds of accounts everywhere else in the world.

"This is meant to deal with that kind of tax evasion tactic that sometimes is visited upon us," Manyi said.

Hosting the meeting holds many benefits for South Africa.

Among other things, it provides South Africa with an opportunity to underscore the importance of tax compliance in support of economic and social development.

South Africa and its counterparts would have an opportunity to initial or sign tax information exchange agreements that had been negotiated, but not yet signed.

Signing these agreements would allow for sharing information for tax purposes and would counter tax-avoidance activities, Manyi said.

With the exception of Africa, every geographic region in the world had had the opportunity to host an annual meeting of the forum.

"South Africa will become the first African country to host a meeting of the global forum."

Hosting the meeting could lead to the establishment of greater networks for exchanging tax information between African countries and their international partners, he said.



Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Add your comment
Comment 0 characters remaining

Company Snapshot

We're talking about:


Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.

10 of the most ridiculous celebrity purchases, that cost millions!

From waterfalls to trips to space, find out what these celebrities were willing to spend a fortune on.


Luxury living

WATCH: Private luxury island for sale!
Karl Lagerfeld spotted with custom gold Apple Watch
The most luxurious dog house!
Must see: The world’s most expensive timepiece

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

What brand of smartphone has been stolen from you?

Previous results · Suggest a vote