CAPE TOWN- South Africa has accused large multinational companies of using complex transactions to illegally reduce local tax payments, costing Africa's largest economy billions of rand.
Tax News Updates
Vice-President Joice Mujuru has called on the government to consider a new taxation system that takes into cognisance developments in technology and leads to sustained economic growth.
ROME. — Italian tax evaders are being caught out by their addiction to fast cars, the police said yesterday, announcing the discovery of US$13 billion in unpaid taxes this year.
THE Zimbabwe Revenue Authority is introducing a new electronic system that will connect it with the information technology systems of all companies and organisations as part of measures to curb leaks in revenue collection.
Customs ports exist to collect taxes, in fact one of the oldest taxes on record, and in the modern world now also has security functions, helping curb and hopefully prevent illegal imports of weapons, drugs and other totally undesirable items.
AFRICA boasts vast mineral resources but despite being well endowed it has struggled to grow its economies over the past 30 years. Most Africans are suffering from poverty and are living on less than a dollar per day.
