Jonas Makwakwa, group executive at SARS, said they will further strengthen its investigations unit with 70 top-end accountants, apart from the risk intelligence team being set up.
To uncover the non-compliant HNWIs, SARS said it will cross-refer data of the HNWIs such as property registrations, trusts, vehicle and aircraft ownership, JSE share ownership, investments, private school enrolments and media reports.
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The SARS investigation team is expected to be purposeful, given the Credit Suisse Global Wealth Report 2011, which expects the number of US dollar millionaires in South Africa to increase from the 71,000 in 2011 to a forecasted 243,000 by 2016.
Credit Suisse also said that 116,000 South Africans currently constitute global top 1% of wealth holders.
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