South Africa's(SA) tax system is grappling with a troubling imbalance that experts say is unsustainable. The latest Tax Statistics report underscores the heavy concentration of the tax burden on a small segment of the population and corporations. In the 2023/24 fiscal year, South Africa collected approximately $116 billion in gross tax revenue, with personal income tax serving as a key contributor, bolstered by slight improvements in employment and earnings. However, a deeper look reveals a concerning disparity: just 1.6 million individuals-only 2.6% of the country's 64 million people-shoulder a significant share of the tax burden. To delve into this issue is Dr. Azar Jammine, Chief Economist at Econometrix

<p>South Africa's(SA) tax system is grappling with a troubling imbalance that experts say is unsustainable. The latest Tax Statistics report underscores the heavy concentration of the tax burden on a small segment of the population and corporations. In the 2023/24 fiscal year, South Africa collected approximately $116 billion in gross tax revenue, with personal income tax serving as a key contributor, bolstered by slight improvements in employment and earnings. However, a deeper look reveals a concerning disparity: just 1.6 million individuals-only 2.6% of the country's 64 million people-shoulder a significant share of the tax burden. To delve into this issue is Dr. Azar Jammine, Chief Economist at Econometrix</p>

Advertisement