'Clampdown on tax avoidance', 21 Nov 2014: A global crackdown on tax avoidance has begun and South Africa is forging ahead in a bid to tackle wealthy individuals and corporates who practise this tactic…G20 countries have pledged to set up a system of information exchange by 2015, limiting the ability of tax avoiders to escape this global net…The tax gap is estimated by the South African Revenue Service (Sars) to be between 15% and 30%...With tax revenues expected to be around R1-trillion this year, this could mean as much as an additional R300-billion in additional collections, more than enough to plug the R140-billion budget deficit…According to Judge Dennis Davis, chair of the Davis tax committee…a review committee appointed…to assess South Africa’s tax policy framework and its role in supporting national objectives…tax regulation should not deter investors, “…All we are asking is, if corporates can only be here because they flout our tax law, then they must go elsewhere. But they won’t be able to go elsewhere because all those [OECD and G20] countries will be doing the same…”…