• Nene's SAA nemesis

    No political figure seems to have the guts to speak out against Dudu Myeni, says Solly Moeng.

  • The mp3 revolution

    Ian Mann takes a look at the war between digital music and the compact disc.

  • Don't take us for fools

    It's time for businesses to stop thinking consumers are gullible, says Mandi Smallhorne.

All data is delayed
See More

SA to host global tax forum

Nov 10 2011 10:55
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
Comments have been closed for this article.

Company Snapshot

We're talking about:


Marketing is a big concern in SA's small business community, followed by a lack of confidence and partnering with the wrong people, according to a survey.

Money Clinic

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

Voting Booth

The 25 basis points interest rate increase is:

Previous results · Suggest a vote