Investigating a new wealth tax in South Africa: Lessons from international experience
Journal of Economic and Financial Sciences
| Field | Value | |
| Title | Investigating a new wealth tax in South Africa: Lessons from international experience | |
| Creator | Arendse, Jackie Stack, Lilla | |
| Description | In recent years, there has been an increasing focus on new sources of taxation, including wealth tax. In South Africa, two phenomena have driven the focus on wealth tax. Firstly, the need for additional tax revenue to fund an ongoing and growing budget deficit, exacerbated by a prolonged period of low economic growth, rising government debt and a very small base of individual taxpayers. Secondly, the fact that South Africa has one of the most unequal societies in the world. The dual demands of increased tax revenue and economic inequality have converged around wealth tax as a possible panacea to both problems. Although South Africa has a long history of wealth transfer tax in the form of estate duty and donations tax, there has never been a tax on the net wealth holdings of individuals during their lifetime. Internationally, numerous countries have used wealth tax in various forms, including inheritance tax, gift tax, recurrent wealth tax and non-recurrent wealth tax. This study examines some of the international experiences with these three categories of wealth tax, seeking lessons and experiences that can inform the debate around the viability of a new wealth tax in South Africa. | |
| Publisher | AOSIS | |
| Date | 2018-04-09 | |
| Identifier | 10.4102/jef.v11i1.175 | |
| Source | Journal of Economic and Financial Sciences; Vol 11, No 1 (2018); 12 pages 2312-2803 1995-7076 | |
| Language | eng | |
| Relation |
The following web links (URLs) may trigger a file download or direct you to an alternative webpage to gain access to a publication file format of the published article:
https://jefjournal.org.za/index.php/jef/article/view/175/207
https://jefjournal.org.za/index.php/jef/article/view/175/206
https://jefjournal.org.za/index.php/jef/article/view/175/208
https://jefjournal.org.za/index.php/jef/article/view/175/193
|
|
ADVERTISEMENT
