Emigration threatens SA’s tax system, says Standard Bank

The renewed loss of skilled and high-income earners is a threat to public finances, says chief economist

09 February 2023 – 20:36 Prinesha Naidoo

Renewed emigration by skilled and high-income earners poses a threat to SA’s fragile tax system, according to the continent’s biggest bank. 

“SA’s tax system rests on a pinhead,” Goolam Ballim, chief economist at Standard Bank, said on Thursday. “Emigration is a budding threat to SA’s public finances given the disproportionate reliance on a few hundred thousand individuals who contribute the bulk of SA’s tax take — not just income taxes, but also indirect taxes”. ..

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