LACK OF TAX CERTAINTY CAUSING DEPRECIATION OF SA’S ECONOMY

A continent so rich with natural resources, but yet there is still a wide economic inequality gap. Money is lost due to base erosion and profit shifting, thus minimizing the opportunity to advance development. CNBC Africa is joined by Ernie Lai King, head of tax and Asia practice, at Hogan Lovells who holds the view that the lack of tax certainty and the aggressiveness of tax authorities adds to the depreciation of South Africa’s economy.