Loeries Creative Week

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Building sector "least compliant" in paying taxes

According to a report on Business Report, the South African Revenue Service has accused the construction sector of being the "least tax-compliant sector" in South Africa's economy with contractors owing it R4,7-billion and, of that, R2,6-billion relates to outstanding VAT.

29 Jun 2012

According to the Business Report report, SARS commissioner Oupa Magashula says the industry had under-declared PAYE by 50% and corporate income tax by 61%. Magashula says that SARS will now target the construction companies to get its fair share of taxes.

Read the full article on www.iol.co.za/business.

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