Tag - Black market

OPINION | SA is bleeding revenue on the black market – and it’s avoidable

As Finance Minister Tito Mboweni prepares to deliver his annual Budget this month, how he must bemoan the fiscal crater carved out by South Africa’s illegal economy.  This shadowy world of illicit flows, black market trade and other nefarious tax dodging was estimated – at this time last year – to cost the fiscus R100...

South Africa is possibly the world’s largest black market for cigarettes

Forcing smokers to buy illegally during the tobacco ban has normalised the act of selling and buying illicit brands for both retailers and consumers, costing the fiscus some R8 billion a year, a new report states. An investigation by corruption-busting group Tax Justice SA (TJSA) has found that two of every three cigarettes sold in...