South African Finance Minister Pravin Gordhan has just released statistics that would make anyone with an interest in how the rich live drool with envy. It seems they are among the worst tax dodgers.
Gordhan says, for example, 50 individuals who own luxury private planes in excess of R20 million have been identified but they have declared gross income of less than R1 million a year in their tax returns.
Some even own Ferraris but claim to earn less than R350 000 a year.
Below is Gordhan’s full statement released ironically on 1 April, which was Fool’s Day:
Overview on High-Net Worth Individuals
(24 VIEWS)
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