Sars to quantify size of illicit economy in coming months, says Tito Mboweni

The SA Revenue Service will finalise its research to quantify the size of the illicit economy within the next few months as it moves to tackle the scourge.

The main culprits are tobacco smuggling, counterfeit textiles, drug manufacturing and smuggling, illicit mining of gold and diamonds, ivory smuggling and the poaching of endangered species like abalone and rhino. “The study also seeks to identify, quantify illicit/illegal activities taking place in both the formal and informal economy. The study will further involve identifying, locating, understanding, registering, managing and monitoring illicit businesses in their different forms and sizes in the illicit economy,” said Mboweni.

“In line with the overall Sars strategy of discouraging non-compliance and incentivizing good behaviour through education and/or enforcement action as executed by its enforcement divisions, and in recognition of the need for alternative enforcement responses to non-compliance within the illicit economy, Sars established an interim capability to conduct investigations into the illicit economy,” said Mboweni.

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