- Title
- Investigating a new wealth tax in South Africa: Lessons from international experience
- Creator
- Arendse, Jacqueline A
- Creator
- Stack, Elizabeth M
- Subject
- To be catalogued
- Date Issued
- 2018
- Date
- 2018
- Type
- text
- Type
- article
- Identifier
- http://hdl.handle.net/10962/69434
- Identifier
- vital:29536
- Identifier
- https://jefjournal.org.za/index.php/jef/article/view/175/193
- 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.
- Format
- 12 pages
- Format
- Language
- English
- Relation
- Journal of Economic and Financial Sciences
- Relation
- Arendse, J. and Stack, L., 2018. Investigating a new wealth tax in South Africa: Lessons from international experience. Journal of Economic and Financial Sciences, 11(1), p.12.
- Relation
- Journal of Economic and Financial Sciences volume 11 number 1 April 2018 2312-2803
- Rights
- authors
- Rights
- Use of this resource is governed by the terms and conditions of the Creative Commons Attribution 4.0 International (CC BY 4.0) License
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Stack, Elizabeth Mary (Lilla) (Prof)
Arendse, Jacqueline Anne (Assoc Prof)
RU Department of Accounting
SDG 08. Decent Work and Economic Growth
SDG 10. Reduced Inequalities
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