Share

Treasury gives glimpse into what to expect in SARS inquiry

Cape Town - The parameters of a commission of inquiry into tax agency SARS are expected to be announced by the Presidency later in the week. 

Treasury's deputy director-general Ismail Momoniat told Parliament’s oversight committee on finance on Wednesday that the inquiry was expected to consider the adequacy and legality of steps that SARS took to address revenue shortfalls over the past two years. 

It is also expected to cover the issue of VAT refunds, mining rehabilitation funds, and excise and customs provisions related to the tobacco trade. 

“Treasury hopes that the commission’s work could also assist in strengthening SARS capacity to deal with illicit financial flows and tax evasion by highly-connected individuals,” he said. 

He did not say who the individuals were. 

President Cyril Ramaphosa, during his maiden State of the Nation Address in February, said the commission would ensure that the credibility of SARS is restored, as well as its capacity to meet revenue targets.

“We must understand that tax morality is dependent on an implicit contract between taxpayers and government that state spending provides value for money and is free from corruption,” said Ramaphosa during his address.

* Sign up to Fin24's top news in your inbox: SUBSCRIBE TO FIN24 NEWSLETTER

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.89
+0.2%
Rand - Pound
23.82
+0.3%
Rand - Euro
20.37
+0.3%
Rand - Aus dollar
12.31
+0.3%
Rand - Yen
0.12
+0.2%
Platinum
908.05
0.0%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders