File image: Minister of Finance, Malusi Gigaba.

SANDTON - Finance Minister, Malusi Gigaba says there's a need for African countries to finance their development. He was speaking at the 2017 Tax currently underway in Sandton.

Gigaba ellaborated that it is important to consider taxation in the context of economic development. "Development aid and partnerships are both important welcome," he added. 

This five day event is an annual gathering bringing together the tax community - tax practitioners, in-house tax staff members, government tax officials and tax academics. It seeks to add new variety and talent to benefit tax professionals who are seeking to refresh their knowledge and to learn about new tax-related developments.

In his speech, Gigaba encouraged tax professionals to assist government in spreading the message that individuals and businesses should obey the law, disclose their off-shore assets and pay their fair share before they are caught. 

"The 2017 Tax Indaba should be a fantastic opportunity to not only educate and inform others on the latest tax updates, but as a platform for meaningful discussion into how the tax system can best serve both those who pay tax in all its forms and our society as a whole," minister concluded.

- BUSINESS REPORT ONLINE