The ANC's economic transformation head Enoch Godongwana. Photo: Leon Nicholas
The ANC's economic transformation head Enoch Godongwana. Photo: Leon Nicholas

ANC mulls wealth tax

By Getrude Makhafola Time of article published Oct 12, 2015

Share this article:

Johannesburg - The ANC’s national general council (NGC) wants a renewed look into possible taxing of South Africa’s wealthy.

The party’s economic transformation head Enoch Godongwana was careful to use cautious wording when he addressed a media briefing at the NGC meeting in Midrand, Johannesburg, on Sunday.

“We are not saying let us implement wealth tax; none of us here are tax experts, we’re activists. Therefore we need tax experts to look into this.

“Consideration must be given to explore its feasibility and applicability; we need to mobilise resources on this issue,” he said.

A wealth tax would see wealthy individuals having to declare all assets. Last week, French economist Thomas Piketty proposed an annual, low-rate wealth tax and a minimum wage to start correcting inequality in South Africa.

Piketty was delivering the 13th annual Nelson Mandela Foundation lecture in Johannesburg.

Turning to e-tolls, Godongwana said concerns were raised by Gauteng delegates over non-implementation of deputy president Cyril Ramaphosa’s “new dispensation” announced in May.

Ramaphosa announced halved tariffs for most categories of vehicles in terms of a new tariff structure.

“The commission called for the speedy implementation of the new plan, and pursuing of further investigation and working with the Gauteng government to look at economic implications that have been raised,” Godongwana said.


Share this article: