Sars probes illicit economy | IOL News

Johannesburg – Finance Minister Tito Mboweni says the study conducted by Sars into illicit economy was expected to be completed next March.

Mboweni revealed this in a written response to a parliamentary question from DA MP Dion George, who asked whether an estimation of the size of the illicit economy has been conducted and what steps are being taken to tax the illicit economy effectively, among other things.

In his response, the minister said the illicit economy was a continuously changing landscape and a function of the overall levels of societal and tax compliance.

“Sars is in the process of conducting scientific and evidence-based research to quantify the size of the illicit economy for South Africa and as such there is no official position yet on the size of the illicit economy.

“The study also seeks to identify, quantify illicit/illegal activities taking place in both the formal and informal economy,” Mboweni said.

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