Sars ID rich tax-dodgers

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Sherbang

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The South African Revenue Service (Sars) on Friday announced it had identified 50 people who own luxury planes worth more than R20-million, but only declare incomes of less than a R1-million.
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Sars said it found 2800 people who earn more than R700-million a year or own assets worth R75-million or more, but only 300 in this category were registered with Sars.
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:wtf:
 
I hope they're made to pay up, and that the penalties are huge.
 
Not surprised people dodge SARS - you get nothing for your money.
 
Those folks are just doing it on a much larger scale than most. Lots of people dodge SARS and find ways (some legit, some not so) to pay less tax.
But as a an obedient little tax payer, I hope they get totally wiped by SARS.
 
Okay so you gain status by owning these things... but you're a petty thief? People have a skewed idea of status...
 
So in the same vein what happened to Malema's lifestyle audit? Funny how you & me are subject to living within our income bracket yet SARS refuses to audit the short little fool.
 
At least 2800 Greedy Multi-Millionaires in SA

http://www.eyewitnessnews.co.za/articleprog.aspx?id=62981
Sars said it found 2,800 people who earn more than R700 million a year
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Assuming these astoundingly gifted executives work 8 hours a day, 5 days a week, and 11 months a year, this means they are earning more than R360 000 per hour. What are these 2800 people doing that could possibly be worth R360 000 every hour?

I'm sure I know some of these people or people very close to this tax bracket, I have sat next to them in their offices, fixed their spreadsheets, read their emails, listened to their phone conversations, cleaned the porn and viruses off their PCs and smartphones, been to their homes to help their wives with the computers of her private business and I don't think they are worth R360 000 an hour.

Anyway, when you have R360 000 coming in every hour how do you spend that? That is R2,9 million after 1 day at work, how do you spend that every day?

SA law requires publicly listed companies to declare their executive remuneration. We know what the directors of the Top 40 companies on the JSE earned last year, it is already in the public domain. A tax expert could give a fairly accurate assessment of how much tax they should have paid but we have no laws that require SARS to divulge what these executives eventually did pay to SARS.

I would love to read a Noseweek or MoneyWeb report that reads like this:

Executive A works for a company listed on the Financial Services board of the JSE, they declared an income of R500 000 000 last year and they should have paid R200 000 000 tax before deductions but in reality they paid SARS less than R1 000 000. In other words they got a tax reduction of 99,5%.
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If only someone had a friend in SARS who could help with this nameless data, a hero whistle blower. They did this study in the UK and the results were shocking.
 
Well I applied to register as a tax payer back in February, still no reply. They obviously dont want my money.
 
Ancalagon said:
Well I applied to register as a tax payer back in February, still no reply. They obviously dont want my money.
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Unless you are not a salaried employee, tax is deducted from your salary in any event. Registering as a taxpayer will allow you to claim back some money if you've paid an excess in tax, or pay in a bit more if there was a shortfall.
 
Ancalagon said:
Well I applied to register as a tax payer back in February, still no reply. They obviously dont want my money.
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Mike Hoxbig said:
Unless you are not a salaried employee, tax is deducted from your salary in any event. Registering as a taxpayer will allow you to claim back some money if you've paid an excess in tax, or pay in a bit more if there was a shortfall.
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And it will also allow them to nail you for penalties for not filing for previous years that you weren't registered, as well as back taxes that you apparently owe them, too.
 
owning an expensive asset does not equate into money now does it! one can own an aircraft, ferrari or whatever other expensive item but that does not mean there is money that can be taxed.
 
Celine said:
owning an expensive asset does not equate into money now does it! one can own an aircraft, ferrari or whatever other expensive item but that does not mean there is money that can be taxed.
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uhm, what? It must've come from somewhere. Do you own a jet?!

Plus, if you own a R20mil jet, its gonna cost an absolute bomb to keep!!! A mate of mine owned a little 1man plane, cost him R10k/month hangar fees. Thats JUST to keep it in the friggen hangar?!
 
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Celine said:
owning an expensive asset does not equate into money now does it! one can own an aircraft, ferrari or whatever other expensive item but that does not mean there is money that can be taxed.
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What about the money used to acquire the asset? How would you determine if that was taxed?

That's why expensive assets + a relatively low income declaration sets off the alarm bells.
 
Name and shame them! Why should a tax-dodger at that scale be allowed any privacy? The public are being denied a massive slice of useful tax income! Why do I have to pay a chunk of my income to SARS, whilst struggling to make ends meet, whilst these slimy crooks get to enjoy the high life without helping the country they're making a buck from?
 
i hope they catch, fine and imprison these S.O.B's. why must i [who compared to them, make basically nothing] pay my tax faithful every month, and they get to live it up, and avoid paying.

F'EM ALL !!!!
 
Mike Hoxbig said:
Unless you are not a salaried employee, tax is deducted from your salary in any event. Registering as a taxpayer will allow you to claim back some money if you've paid an excess in tax, or pay in a bit more if there was a shortfall.
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But everyone HAS to be registered right? I am paying tax, but I thought every South African has to do their own tax returns?
 
Ancalagon said:
But everyone HAS to be registered right? I am paying tax, but I thought every South African has to do their own tax returns?
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That's the problem - they're registered and declared incomes of R300k p/a, but own very expensive assets, probably as a result of not declaring the source of all their incomes.
 
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