With fiscal deficits increasing, and the National Development plan’s approval, the tax authorities are under increasing pressure to hunt and collect from a smaller pool of taxpayers.
The tax authorities will continue to audit large corporate taxpayers regularly. The frequency and intensity of the audit may vary directly with the risk ascribed to the particular taxpayer and the perceived aggressive tax planning implemented.
With Africa widely viewed as the last frontier of continents providing real growth, the foreign investor would be well placed to promote strong corporate governance regarding their tax function.
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