In 2018 the Davis Tax Committee was tasked with the responsibility of investigating the feasibility of introducing an annual wealth tax in South Africa. This wealth tax would serve as a replacement for the existing wealth taxes that are Estate Duty, Donations Tax, Security Transfer Tax and Transfer Duty. There has since been great debate around this topic and the aim of this dissertation is to collate all the literature that has been researched on the wealth tax both nationally and internationally to conclude as to whether or not a wealth tax will be suitable for South Africa currently The two main reasons behind the proposal of a wealth tax are firstly, to increase tax contributions to the South African revenue. Secondly, it is as a measure of redress given that South Africa has great disparities in wealth with the wealth Gini coefficient currently reported to be 0.9. The wealth tax has not only been a contentious topic in South Africa, but has been debated globally. The OECD reported that initially 12 countries had implemented an annual wealth tax and now only 4 still have the tax operating in their economies. This dissertation focuses on lessons that can be learnt from international countries by conducting a country review on France, Germany and India. India is the only other BRICS country that had previously implemented the annual wealth tax and has since abolished it in 2015. Furthermore, it is important for the introduction of any tax in an economy to align with the principles of a good tax system. Adam Smith set out the canons of a good tax system such as simplicity, efficiency and equity and this dissertation assesses whether the wealth tax aligns with these ideals and investigates whether it would be fair to implement this tax as per the principles of vertical and horizontal equity. As mentioned above, South Africa already has existing wealth taxes. This study therefore interrogates whether the annual wealth tax is necessary since there are already wealth taxes that exist and whether these existing taxes on wealth meet the intended ideals of the wealth tax. There are advantages and disadvantages associated with the implementation of this tax. It was therefore important for this dissertation to juxtapose these. The dissertation concludes that the disadvantages outweigh the advantages of implementing a wealth tax in South Africa at the moment. The introduction of a wealth tax would therefore not be feasible in South Africa at the moment.

Submitted by Filipe dos Santos (fsantos@pucsp.br) on 2018-07-18T11:46:31Z No. of bitstreams: 1 Ricardo De Angelis Colli.pdf: 1173300 bytes, checksum: 51bbcc3090a9156ce11fc31de9c2bd5e (MD5) / Made available in DSpace on 2018-07-18T11:46:31Z (GMT). No. of bitstreams: 1 Ricardo De Angelis Colli.pdf: 1173300 bytes, checksum: 51bbcc3090a9156ce11fc31de9c2bd5e (MD5) Previous issue date: 2018-03-30 / The Brazil has faced since the deployment of the Unified Health System (SUS), in 1988, deep financial resources dispute to ensure the universal and integral health right. Among the biggest problems that involve the financing of SUS are: the lack of greater participation of the federal Government in determining sources of public revenues and the wacky tax structure, charge on the poorest individuals and families; and, the release of resources for public health, thickening the payment of public debt. In this context will be analyzed the different views regarding the taxation of large fortunes, to identify the main barriers to your institution. The objective of this research is to investigate the role that tax on large fortunes could have as a source of funding for the SUS / O Brasil tem enfrentado desde a implantação do Sistema Único de Saúde (SUS), em 1988, profundas disputas por recursos financeiros para garantir o direito universal e integral à saúde. Dentre os maiores problemas que envolvem o financiamento do SUS estão: de um lado, a falta de maior participação do governo federal na determinação de fontes de receitas públicas e a estrutura tributária regressiva, onerando os indivíduos e famílias mais pobres; de outro, a desvinculação de recursos destinados à saúde pública, que podem engrossar o pagamento da dívida pública. Neste contexto serão analisados os diferentes pontos de vista a respeito da tributação das grandes fortunas, bem como identificar os principais entraves à sua instituição. O objetivo desta pesquisa é investigar o papel que a tributação sobre as grandes fortunas poderia ter como fonte de financiamento para o SUS

Tax Law attempts to regulate the majority of possible circumstances, in order to achieve an effective taxing on what requires be taxed. Being the acquisition of recreational boats an increasingly frequent phenomenon, it’s necessary to apply the Tax to Recreational Boats and to understand this tax in the light of the Peruvian legislation. On this occasion, the author analyzes the current situation of the imposition to these movable goods, through the interpretation and even questioning of its legal basis: the Law of Municipal Taxation and the regulation of the Tax to Recreational Boats. / El Derecho Tributario intenta regular la mayoría de circunstancias posibles para gravar efectivamente aquello que requiera imposición. Siendo la adquisición de embarcaciones de recreo un fenómeno cada vez más frecuente, surge la necesidad de aplicar el Impuestoa las Embarcaciones de Recreo y de entender esta carga a la luz de la normativa peruana. En esta oportunidad, el autor analiza la situación actual de la imposición a estos bienes muebles, a través de la interpretación de su base legal: La Ley de Tributación Municipal yel Reglamento del Impuesto a las Embarcaciones de Recreo.

In a world of economic uncertainty and manifold social problems, South Africa has its own unique challenges of low economic growth, persistent budget deficits that produce increasing government debt and the highest level of economic inequality in the world. The history of injustice and economic marginalisation and the failure of the economy to provide inclusive growth drives an urgent need to address economic inequality through tax policy, placing ever more focus on wealth taxes as a possible solution. There is a hope is that taxing the wealthy may provide the opportunity to redistribute desperately-needed resources to those denied the opportunity to build wealth and who are trapped in the cycle of poverty. Yet, as appealing as a new wealth tax may seem, the introduction of such a tax carries with it a range of risks, not all of which are known. Of great concern is the possible effect on the economy, which, in its vulnerable state, cannot afford any loss of capital and investment. Very little research has been done on wealth tax in the South African context and there is a dearth of literature focusing on the views and perceptions of the wealthy individuals themselves. This qualitative study investigates the merits and disadvantages of a new wealth tax and seeks to identify any unintended consequences that could result from the implementation of a new wealth tax in South Africa, drawing from historical and international experience and primary data obtained from interviews with individuals likely to be affected by such a tax. Having explored the literature and international experiences with wealth tax and having probed the thinking of wealthy individuals who would be the payers of a wealth tax, the study finds that a new wealth tax may contribute towards the progressivity of the tax system, but it is doubtful whether such a tax would provide a sustainable revenue stream that would be sufficient to address economic inequality and there is a risk of causing harm to the economy. Recognising that the motivation for wealth taxes is often driven more by political argument and public perception than by rational quantitative analysis, the study also anticipates the introduction of a new wealth tax and suggests guidelines for the design of such a tax within the framework for evaluating a good tax system. This study informs the debate on wealth taxes in South Africa and contributes to the design of such a tax, should it be implemented.

M.Comm. / The first objective of this dissertation is to establish whether wealth or capital taxes are relevant to South Africa. If the answer is yes, the further objective is to identify the various forms of capital and wealth taxes in order to determine which form of wealth or capital tax would be suitable in South Africa in the future (refer chapter 2). The second objective, once the form of capital tax for a future South Africa is identified, is to determine which assets or, in other words, which property will be subjected to such a tax (chapters 3-5). The third objective is to analyse the recommendations contained in the fourth interim report of the Katz Commission of Inquiry into certain 3 aspects of the tax structure of South Africa (hereafter, referred to as the Katz Commission) and to examine the effect of these recommendations on the inclusion of property in the deceased's estate which will be subjected to such a tax (chapter 5). The fourth objective is to provide the reader with two diagrams which will enable such person to determine: whether a deceased person's estate will be subject to estate duty in terms of the current Act 45 of 1955, as amended (hereafter, referred to as the Act); and what an estate consists of (chapter 6). The fifth objective is to provide the reader with a comprehensive alphabetical property checklist to enable such person to determine whether a specific asset should be included in the estate of a deceased person (chapter 6).

The growing dissatisfaction with perceived distributional inequality and budgetary constraints gave rise to a discussion on the (re-)introduction of wealth taxes. Wealth taxes are typically levied on private wealth, in some countries also on corporate wealth. To avoid misleading statements concerning possible distributional consequences of wealth taxes, preceding analyses of the economic and particularly investment effects are necessary. As investments drive job creation, tax-induced changes in investment timing may significantly affect the income and wealth distribution. We analyze the impact of wealth taxes on investment timing under uncertainty and irreversibility and the propensity to carry out risky projects. Using a Dixit/Pindyck type real options model we find that wealth taxes have real effects. This means that higher wealth tax rates can either stimulate or depress the propensity to invest in risky projects. We find that apparently paradoxical wealth tax effects (accelerated investment due to higher wealth tax rates) are more likely for low interest rates and for high-risk investments. Using either historical cost or fair value accounting may affect investment timing ambiguously. Thus, the design of wealth taxes is crucial for the resulting delay or acceleration of investment. Although our model takes an individual perspective, our findings are also relevant for the current tax policy discussion on the introduction of wealth taxes. Our results indicate that wealth taxes are particularly harmful for specific classes of investments, for example low-risk investments. (authors' abstract) / Series: WU International Taxation Research Paper Series

The thesis examined the current system of the taxation of wealth in South Africa with an emphasis on the taxes that apply upon the death of the taxpayer. The focus of the research was on the problems associated with estate duty, namely the issue of double taxation; the alleged cumbersome administration of the tax and the limited revenue that it brings in; it’s questionable efficacy due to extensive estate planning on the part of taxpayers while they are still alive and its lack of uniformity with other wealth taxes. An interpretative research approach was followed which involved analysing documentary data. The conclusions that were reached were that estate duty as a wealth tax in South Africa has been rendered ineffective due to the inherent problems associated with its application, namely the fact that double taxation exists, not only in the context of capital gains tax, but also in that taxpayers resent being taxed upon death after having paid income tax during their lives. The perceived unfairness that is associated with estate duty has caused the creation of a secondary industry of estate planning, with the aim of minimising estate duty, which industry has resulted in the ineffectiveness of estate duty and its limited revenue. No evidence could be found regarding the Treasury’s assertion that estate duty is a cumbersome tax to administer. The final conclusion reached was that the current estate duty regime needs to be overhauled preferably by extending the current system of capital gains tax and abolishing estate duty, with due consideration being given to the consequences associated therewith.

Cette thèse étudie dans une perspective comparée les modalités du travail de représentation en matière d’impôt sur la fortune, au Bundestag et à l’Assemblée nationale. S’appuyant sur des approches empiriques complémentaires (entretiens semi-directs, observation non-participante, bases de données prosopographiques, travail d’archive codé), cette enquête entend expliquer la variété des pratiques constatées. La recherche montre que les débats en matière d’impôt sur la fortune se caractérisent par la place centrale prise par les mondes de l’entreprise, faisant émerger le constat d’une forme d’inégalité d’accès à la parole parlementaire pour les groupes sociaux cités au sein des deux Assemblées. L’enquête souligne également que les députés développent des pratiques différenciées entre groupes en utilisant plusieurs registres de représentation visant à justifier et légitimer les différents modes d’investissement observables dans les deux pays. Face à ce constat, cette étude entend proposer un examen des causes des phénomènes observés. Plus d’une trentaine de facteurs explicatifs sont ainsi pris en compte, à des niveaux micro, méso et macrosociologiques (histoire politique, dispositions individuelles, processus de socialisation politique, économique et professionnelle, influence des entourages, effets de positions et de contextes, etc.). La thèse montre alors que les pratiques de représentation sont le résultat de l’articulation d’un système de facteurs qui interdisent de penser ces pratiques de façon réifiée. En cherchant à comprendre la complexité et l’intrication de nombreux éléments intervenant dans les prises de position des élus, la thèse cherche à démêler les fils explicatifs de l’écheveau des pratiques de représentation. / This thesis aims at analysing the methods of representing during wealth tax debates in the French Assemblée nationale and in the German Bundestag. Based on empirical researches (semi-direct interviews, non-participating observations, prosopographic data, coded archival work), this research aspires to explain the variety of identified practices. The research shows on one hand that debates around wealth tax are characterized by the central position of concerns and businesses, highlighting the following acknowledgment: the inequity in accessing speaking time for social groups mentioned in both Parliaments. The thesis also underlines that members of parliament develop differentiated practices between groups by using multiple register of representation, which aim at justifying and legitimating all the different ways of commitment observed in both countries.Facing this observation, the thesis strive to provide a review of the causes of the observed phenomena. More than thirty explanatory factors are taken into consideration on micro, meso and macro sociological levels (political history, individual provisions, political/economical/professional socialisation processes, influence of close circle, effects of positions and environment). The thesis therefore demonstrates that the practices of representation are the result of a very high number of diversifying factors, which prevent from thinking those practices on a reified way. While trying to understand the complexity of new elements intervening in elected representatives’ position statements, the thesis aspires to untangle the explanatory threads of political representation. / Diese Doktorarbeit vergleicht die Modalitäten der politischen Repräsentation in Bezug auf die Vermögensteuer im Bundestag und in der Assemblée nationale. Die Recherche will Erklärungen geben für die Vielfalt der hierbei beobachteten Praktiken. Dafür stützt sie sich auf komplementäre empirische Materialien (Gespräche, Beobachtungen, prosoprographische Daten, codierte Archivarbeit). Die vorliegende Arbeit zeigt, dass die Debatten um die Vermögensteuer durch die zentrale Stellung der Unternehmen geprägt sind. Es existiert eine Form von ungleichem Zugang zur parlamentarischen Rede für die sozialen Gruppen innerhalb der beiden Versammlungen. Oft werden bestimmte soziale Gruppen einfach ignoriert. Die Studie verweist auch darauf, dass die Abgeordneten Praktiken von differenzierter Repräsentation zwischen Gruppen entwickeln, indem sie mehrere Register der Repräsentation benutzen, die darauf aus sind, verschiedene Modi der Investitionen zu rechtfertigen und zu legitimieren- in beiden Ländern. Vor diesem Hintergrund bietet diese Arbeit eine Analyse der Gründe der beobachteten Phänomene an. Dazu werden mehr als dreißig explikative Faktoren unter micro-, meso- und makrosoziologischen Gesichtspunkten untersucht (politische Geschichte, individuelle Dispositionen, Prozesse politischer, ökonomischer und professioneller Sozialisierung, Einflüsse des Umfelds, Einflüsse von institutionellen Positionen und Kontexten usw.). Diese Doktorarbeit will nachweisen, dass die Praktiken der Repräsentation das Ergebnis eines sehr hohen Anteils verschiedener Faktoren sind, die es untersagen diese Praktiken gedanklich zu verfestigen. Indem wir versuchen, die Komplexität und die Verstrickung der zahlreichen Elemente zu verstehen, die in den Stellungnahmen der Abgeordneten zum Ausdruck kommen, will diese Doktorarbeit die erklärenden Fäden des Knäuels der Repräsentationspraktiken entwirren.

Indiana University-Purdue University Indianapolis (IUPUI) / I examined a panel of all 50 states over a period of 30 years between 1981 and 2010, estimating a random effects model to examine the relationship between the party of a state’s governor and changes in pretax and transfer income inequality. Though the literature has quite consistently shown that income inequality increases more quickly under Republican governors or when policies favored by Republicans are implemented, I find no evidence to support this, though this is perhaps because I did not allow a long enough lag time for new policies to have an effect. I did, however, find that pretax income inequality increases more quickly under Democratic presidents than under Republicans, in spite of the fact that all previous research shows the opposite to be true. I suspect that this unusual finding is the result of a quirk in my 1981-2010 time frame, namely the effects of the shift in welfare policy under the Clinton administration in the 1990s.