South Africa to Weigh a Wealth Tax to Aid Recovery, Rapport Says
Commercial office buildings stand in the skyline in the the Central Business District (CBD) of Johannesburg, South Africa on April 6.
Photographer: Waldo Swiegers/BloombergThis article is for subscribers only.
The South African government will consider a proposal for a one-off wealth tax during an economic recovery planning meeting on Monday, according to a report in Rapport.
Such a tax could assist Africa’s most industrialized economy as it bounces back from the coronavirus outbreak and a five-week lockdown that is scheduled to be lifted on April 30. The proposal comes from a group of economists, led by former South African National Treasury budget chief Michael Sachs, the local newspaper reported, citing a plan that was presented to the cabinet last week.