Malusi Gigaba Isithombe: INLSA
JOHANNESBURG - Finance Minister Malusi Gigaba has called on President Jacob Zuma to create an inquiry into SA's tax administration.

SA Revenue Services (SARS) Commissioner Tom Moyane had been told of the inquiry, and is fully committed to the investigation, according to Gigaba.

According to the finance minster, the revenue service will be investigated due to low tax collection, after President Jacob Zuma approved his request for an inquiry.

In a budget speech last month, Gigaba shocked financial markets by flagging weaker growth expectations, shortfalls in revenue, wider deficits and rising government debt.

While speaking at a media briefing on the future of South African Airways (SAA) Gigaba said Zuma had agreed to the inquiry into Sars but also gave some insight on SAA.

In terms of the national carrier, Gigaba said that many investors were interested in taking an equity stake in SAA, after the government appointed new board members to turn around the struggling national airline.

SAA relies on government guarantees to keep it solvent and has been repeatedly cited by the major credit rating agencies as a threat to South Africa’s public finances.



-BUSINESS REPORT ONLINE