The Minister of Finance instructed the DTC to enquire into “the progressivity of the tax system and the role and continued relevance of estate duty to support a more equitable and progressive tax system”. Taxand South Africa discusses.
The DTC report was released for public comment on 13 July 2015 and includes sections on the following:
Sections suggested as recommendations in the DTC report are the folowing:
Discover more: Taxation of estates to also be revisited?
For similar content to our Global Guide, subscribe to our mailing list and keep up to date.
The DTC report states that “the tax system…is one of the most important government tools to redistribute income and address inequality”. This does not take into account the diverse and far-reaching implications the recommended changes to the tax system may have on, not only high-net worth individuals, but all South Africans planning their estate.
