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The first Tesla car was imported by an Indian was in 2017 and he was not Mukesh Ambani, Ratan Tata, Gautam Adani or Gautam Singhania.
The Budget 2022 announced a new tax disclosure for wealthy taxpayers. This is part of SARS’ High Worth Individual strategy and where a dedicated unit is now operating within SARS to focus on these taxpayers. The new disclosure will place a significant compliance burden on wealthy taxpayers, which has received formal endorsement from the National Treasury in last week’s speech - “To assist with the detection of non‐compliance or fraud through the existence of unexplained wealth, it is proposed that all provisional taxpayers with assets above R50 million be requir...