The taxpayer segment that the centre focuses on is large businesses defined as groups or entities with a turnover greater than R1bn; are listed on the Johannesburg Stock Exchange; financial services with a turnover greater than R500m; mining companies with turnover greater than R500m, all entities or groups of companies with a combined total assets value greater than R100m, as well as multinational companies. The other client segment is ultra high net-worth individuals whose total assets are in excess of R75m.
Currently corporate income tax is the third largest revenue contributor, having brought in 16.6% of the total revenue in the 2018/2019 financial year.
Speaking to chief executives of top companies, Sars commissioner, Edward Kieswetter presented the value proposition that the re-established centre will offer to bring about voluntary compliance among corporate South Africa.
This value proposition comprises a three-pronged approach of:
SAnews.gov.za is a South African government news service, published by the Government Communication and Information System (GCIS). SAnews.gov.za (formerly BuaNews) was established to provide quick and easy access to articles and feature stories aimed at keeping the public informed about the implementation of government mandates.
Go to: http://www.sanews.gov.za