Top 10 South Africa stories of 2017
By Tom Carnegie, 29 Dec 17
The establishment of new financial regulators and an overhaul of tax exemptions for expats were some of the top read stories by our South African audience in 2017. To see the others click through the slides.
Just a few hundred South African taxpayers took advantage of the country’s special voluntary disclosure programme (SVDP) which ended on the 31 August 2017.
The tax amnesty on undeclared foreign assets, which the government had hoped would yield billions of rand in additional revenue, was reported as a flop by multiple news agencies.
On 21 August, when the article was published, the South African Revenue Service (Sars) had handled just 499 applications since the programme was launched on 1 October 2016.
Many had complained the system is unfriendly and expensive.
Sources suggested that the SVDP would only bring in a tenth of the nearly ZAR40bn (£2.4bn, $3bn, €2.6bn) the government had hoped.
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