SARS NOW OFFERING THE RICH THEIR OWN TAXMAN

This is the post that should have been done on 17th July.

Well I guess I am not quite there yet! Still I can dream can't I - when I have my own 'Taxman/woman", it will mean I have finally made it!


Sars now offering the rich their own taxman
February 15 2007 at 06:35AM
By Margie Inggs

The latest status symbol? To have your own taxman. The 500 most wealthy people in the country have been sent letters by the South African Revenue Service (Sars) informing them that they will be assigned their own individual tax assessor to look after them personally. However, being among the top 500 has been seen as a status symbol and some wealthy people who have not received a letter from Sars are apparently upset at being overlooked. Deloitte director, Nazrien Kader, said the principle of working with taxpayers to ensure timeous tax clearance was sound if taxpayers were squeaky clean but that people who had anything to hide would not welcome being in the spotlight.

Finance Minister Trevor Manuel will present his Budget next Wednesday. Manuel is expected to announce a further relaxation of exchange controls, although there is not much pressure to relax these. Currently, individuals can take R2,5-million out of the country.