n Tax Breaks Newsletter - Paying taxes is getting easier but more reform is needed : global taxes
|Article Title||Paying taxes is getting easier but more reform is needed : global taxes|
|© Publisher:||Moneyweb (Pty) Ltd|
|Journal||Tax Breaks Newsletter|
|Publication Date||Jan 2008|
|Pages||6 - 7|
Let's hope Pravin Gordhan reads this. According to a new report from the World Bank, IFC, and PricewaterhouseCoopers, South African tax legislation makes it very difficult, and extremely time consuming, for South African taxpayers to comply with their tax obligations.
Furthermore, the report emphasises that tax reforms that make it easier for firms to pay taxes can increase government revenues by broadening the tax base.
Paying Taxes 2008, the second report in an annual series on tax systems, covers 78 countries worldwide.
The report concludes that there is a win-win opportunity for governments and firms if governments simplify tax systems, ease the compliance cost on business, and reduce tax rates.
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