The Organisation for Economic Co-operation and Development (OECD) has recommended that South Africa’s small tax base be barred from certain deductions to address inequality in the country and that the tax base be expanded.
The OECD is an intergovernmental organisation with 38 member countries that conducts research into the financial systems and outcomes of certain countries to then make recommendations on how they could improve.
In the latest OECD Economic Survey for South Africa 2022, it added that the country’s progressive personal income tax schedule is undermined by deductions that largely benefit high-income earners.“Overall, tax rates are already high or comparable […]
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