Gordhan issues warning to tax dodgers

first_img3 April 2012 While South Africa’s overall tax compliance has improved, certain sectors of the economy are taking advantage of loopholes to default on their payments – but will soon find their loopholes closing, says Finance Minister Pravin Gordhan. The government will soon implement stringent measures to clamp down on tax defaulters, Gordhan said during the launch of the South African Revenue Service’s compliance programme in Pretoria on Sunday.Gordhan said that although overall tax compliance had improved, the trends required constant monitoring.“Sars will continue to widen the base of people who are within the tax bracket through constant innovations to ensure that all who should be part of the tax system are part of it,” he said.“Research has identified particular areas in our economy and in our tax system posing higher risks of non-compliance,” he said.“This year Sars will increase its efforts to create a climate that is increasingly conducive to full compliance by all taxpayers,” he said.Construction industry in the spotlightAttention will be directed towards the construction industry, “a sector which has significantly low levels of compliance than other sectors of the economy,” said Gordhan.Construction companies which receive government tenders would be at the center of the purge.“I think we need to take a much harder line. This is not just formal business, these are people who benefit by over-charging government through the inflation of invoice prices – let’s call them beneficiaries and culprits – they must now be brought to book.”“I am sure there are many candidates of these activities who do not appear on the tax radar. Sars has been instructed to ensure that they must start holding these characters to account,” said Gordhan.Trusts system ‘being abused by wealthy individuals’He said a formidable team of experts would be set up to review the trusts system, which Gordhan said was being abused by “wealthy South Africans” without declaring appropriate tax remittances.He said over the past 18 years Sars has made “tremendous progress” in raising the levels of tax compliance in the country by broadening the tax base.“The number of registered individual taxpayers increased from 1.7-million in 1994 to more than 6-million in 2009/10. This number doubled following policy changes which required the registration of all formally employed individuals in 2011,” said Gordhan.The February budget set Sars a revenue target of R738.7-billion. Against this target, Sars collected R742.7-billion, which is R4-billion more than the revised revenue estimate in the 2012 budget.Gordhan said millions of South Africans who are not formally employed or registered for income tax contributed to the fiscus by paying Value Added Tax, excise duties and the fuel levy.‘Talk to us before we talk to you’Both small and major players in the construction industry were among the major tax defaulters, said Sars commissioner Oupa Magashula.“Those people who are not compliant, we know who these people are [and are] going to do something about it,” he said.“The message today is: talk to us before we talk to you. If we call you, be assured that you will pay the penalties,” said Magashula.He said through close co-operation with international partners, Sars will be tightening the rope on those individuals who had not been paying tax or declaring their benefits from the trusts system.“For these wealthy individuals, we are going to start now. We will be collaborating with many tax jurisdictions around the world to get information of all the offshore trusts that wealthy individuals have,” he said.“We know of certain tax havens that are popular amongst wealthy South Africans. We have already signed lots of double taxation agreements and tax information exchanges that will give us a full view of these individuals,” said Magashula.The compliance project would also seek to arrest the widespread proliferation of unlawful cigarettes in the country through tightening the cigarettes manufacturing licences.Sapalast_img read more

Why There Should Be Web Search on Facebook

first_imgjosh catone 1 Tags:#Facebook#Microsoft#web A Comprehensive Guide to a Content Audit Guide to Performing Bulk Email Verification Microsoft Live Search on Facebook is “a no-brainer […] the technical investment is minuscule and the potential return is mammoth.” That was ReadWriteWeb last October in the wake of a $240 million investment by Microsoft in the world’s second biggest social network. At the time, we noted that Facebook was already serving over 600 million searches per month. If Microsoft could convert half of those to web searches, it would take a significant chunk of the search market (where Live does just under a billion searches and Google does just over 4 billion each month). So why hasn’t it happened yet?Early this morning, Robert Scoble wrote a long rambling post laying out a world domination plan for Microsoft that goes something like this: Microsoft buys Yahoo!, Yahoo! Search is popped into Facebook, and Google is locked out of a significant portion of the web. Scoble calls this Microsoft’s “buy enough and keep it closed” search strategy.There are, of course, a few problems with this idea. First, as Nick O’Neill points out, the wall-garden approach to the web that AOL tried in the 90s didn’t work then, so why would it work now? Second, as Erick Schonfeld notes, Microsoft has their own search engine already — Microsoft doesn’t need to buy Yahoo! to crawl or put a search engine on Facebook. Scoble shares an experiment he did recently with Loic Le Meur, of Seemic. Le Meur put an identical event listing on both Facebook and Upcoming.org — meaning one was available only on Facebook, and the other to the web at large (including Google). After a couple of weeks, the Facebook listing had almost 5 times as many RSVPs as the public event listing on Upcoming.org. To Scoble, this seems to indicate that Facebook is the new web. “This is a fight for the Web. We all just crawled inside a box that locks Google out,” he writes.That’s hyperbole — not unusual for Scoble. Google hasn’t crumbled because it can’t search Facebook, and it won’t if Microsoft gets that opportunity. What the event listing experiment shows is that there are some things that Facebook is very effective at — namely spreading information quickly and virally. Scoble infers that because Facebook is so good at spreading information socially, people will be increasingly drawn to it at the expense of any search engine that can’t crawl that information. That may be half true, though it would seem that the kind of information that Facebook is good spreading — the transient, prescient, ever-changing kind like event listings — is probably not the type that search engines are best at finding. (Also, let’s not forget that Google has a search deal with MySpace — which is still the most popular social network.)There are two ways people find information on the Internet: via search (which Google is great at), and via their friends (which Facebook is great at). The former we also know how to monetize. If Facebook can get good at search, it could stand to make a lot of money for whoever it partners with for that — the logical choice being Microsoft. But to do that, Facebook needs to do something it is loathe to: let users wander off the site.It’s not so much that Microsoft needs Facebook to let it crawl the social network, it’s more that Microsoft needs to convince Facebook to let it try to turn its members into searchers.center_img Related Posts The Dos and Don’ts of Brand Awareness Videos Facebook is Becoming Less Personal and More Pro…last_img read more

IAB Europe releases new GDPR consent framework for comment

first_img HomeDigital MarketingIAB Europe releases new GDPR consent framework for comment IAB Europe, in partnership with IAB Tech Lab, announced Thursday new technical specifications for its second iteration of the Transparency & Consent Framework (TCF v2.0), designed to facilitate GDPR and ePrivacy Directive compliance for ad tech vendors.The new specifications are currently available for public comment over the next 30 days.Why we should care IAB Europe’s TCF offers companies a framework with which companies can manage GDPR-approved consent collection from users and site visitors. The new version takes into account feedback from publishers for more granular controls among the requests. With more explicit terms and practices outlined in TCF v2.0, publishers and vendors have access to deeper knowledge and control when collecting and managing personal data. The framework provides more intuitive solutions and resources so that publishers, tech vendors and advertisers can more easily meet the transparency and consent requirements of GDPR.Google, which has not signed on to the initial TCF, has that it would officially integrate this next version of the framework as a recognized TCF vendor after the release. The parties said they have been collaborating on the revision.“Google is actively contributing to the different TCF work-tracks, both on the IAB Europe and the IAB Tech Lab sides, and have said they will announce the timing of their integration once Version 2.0 of the TCF is out in the market,” Townsend Feehan, CEO of IAB Europe, told MarTech Today in February.We have reached out to Google for an update. In January, Google was hit with a 50 million euro penalty ($56.8 million) for not being transparent enough about the use of personal information and for not obtaining specific consent for ad-targeting purposes under GDPR.Key changes in TCF v2.0The updated framework is intended to provide consumers and publishers with more transparency and control over consenting to and collecting personal data, IAB Europe said. Key changes include:Extending the original purposes for processing personal data from five to twelve to provide more in-depth context.Users’ ability to expressly indicate the “right to object” to a vendor collecting and processing their data.Increased control in consenting to data processing, and how the vendors might use the data (including precise geolocation data).This story first appeared on MarTech Today. For more on marketing technology, click here.https://martechtoday.com/iab-europe-releases-new-gdpr-consent-framework-for-comment-233134The post IAB Europe releases new GDPR consent framework for comment appeared first on Marketing Land.From our sponsors: IAB Europe releases new GDPR consent framework for comment IAB Europe releases new GDPR consent framework for commentYou are here: Posted on 26th April 2019Digital Marketing FacebookshareTwittertweetGoogle+share Related postsLytics now integrates with Google Marketing Platform to enable customer data-informed campaigns14th December 2019The California Consumer Privacy Act goes live in a few short weeks — Are you ready?14th December 2019ML 2019121313th December 2019Global email benchmark report finds email isn’t dead – it’s essential13th December 20192019 benchmark report: brand vs. non-brand traffic in Google Shopping12th December 2019Keep your LinkedIn advertising strategy focused in 202012th December 2019last_img read more