SA tax system among the best

(www.thenewage.co.za, 20111115) – South Africa’s tax system was ranked number one among emerging economies, SABC news reported on Tuesday. The system was ranked for its efficiency and for easing the compliance burden on taxpayers, according to a report by the World Bank, the International Finance Corporation and accounting firm Price Waterhouse Coopers. It found that South Africa was taking the lead as a result of first-world initiatives taken by the government, such as e-filing. However, the country’s tax system had fallen 12 places in the global ratings, which included developed countries.