Tax Co-Operation Between US And South Africa Praised

by Robert Lee, Tax-News.com, London

06 March 2003

Speaking at a post-budget meeting organised by Grant Thornton Kessel Feinstein and the Border-Kei Chamber of Business, prominent South African tax lawyer, Daniel Erasmus praised the standards of tax information exchange between the South African Revenue Service (SARS) and the US authorities.

'The co-operation is phenomenal. In some cases SARS would even hold back information it had received from America to check whether a taxpayer declares the overseas funds,' the Moss Morris senior tax partner told those attending the meeting, continuing:

'There is an obvious swapping of information. The Americans also hope to receive information in return [for] help with the war against terrorism. Big Brother is truly watching.'

According to a Dispatch Online report, speaking with regard to the new lean, mean SARS, Mr Erasmus went on to add that:

'You cannot hide mistakes any more. There is a good chance that SARS will detect it. SARS is sparing no expenses. It hires the best constitutional lawyers to assist with the process. My advice is to come clean.'

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