SARS versus Amazon, Apple, Microsoft, and Google

  • Thread starter Thread starter Daily Investor
  • Start date Start date
Maybe they should set up a special ‘low(er)’ tax zone for multi-national conglomerates?

Oh… Ireland are decades ahead already?
 
Only "Daily terror" can come up with such idiotic comparison.

Anything to bring negativity.
 
SARS revenue is tax. All 4 mentioned companies have such high revenue mostly because they do NOT pay tax.
 
Horses ass of a article. Comparing a small countries internal revenue service with 4 of the biggest companies in the world.
2 factors:
Only 17% of South Africans pay tax, the rest just aren't into that sort of thing.
These 4 global companies are master tax dodgers.
 
Way to take something positive and news24 it so it sounds negative.
What a dumb comparison.
 
In the other thread, SARS got R300+ for taxing some guy's ID documents which were sent by SAPO from overseas.
 
They could collect far more if they could get off their arses and go after the "informal" sector. How hard is it to follow the BEEG KAR.
 
1 million people emigrated in the past 3 years.

To emigrate you pay about 10% in tax for taking your money out of the country past your normal 7 million rand allowance. As such a lot of High Net worth wouldve flooded the market with additional taxes.

Cash in your pension so that its not stuck in SA for 3 years or more, and you will be slapped with a heck of a lot of more tax. Do consider though that 3 or years ago we used to trade at R14.37 to the dollar. As such it makes sense for some to get slapped with the tax now, and take the entire sum out normally to be used as they see please, compared to leaving it behind as the currency falls apart.

So the real effect will only be felt in the next 1-3 years as those cut complete tax residency in SA.

I know Oppenheimer has taken his money to Singapore. Quite a few has also followed sending the money there.

But then again, there is that scene of Fun with Dick and Jane, where Dick meets the financial director who says how Globodyne always showed profits but instead made losses like a Ponzi scheme. Or like Enron paying future bonuses, for money they havent even made yet.
 
Apple's annual revenue is $394.3 billion, vs South Africa's entire GDP is only about $420 billion.

With a net tax collection R1.687 trillion, which is roughly $92 billion, which is only about 20% of SA's total GDP.
And rightly so, tax is marginal, meaning it can never compared with revenue of an actual business.

So yea, I think a more realistic comparison would have been something like, "South Africa's GDP vs tech giants".
 
You must log in or register to reply here.
Back
Top
Sign up to the MyBroadband newsletter
X