Tshwane, 18 October 2021 – The South African Revenue Service (SARS) today welcomed Ms Natasha Singh, a chartered accountant with more than 20 years’ experience, as Director: High Wealth Individual (HWI) Segment. Commissioner Kieswetter introduced Ms Singh to colleagues and staff at the Woodmead offices where the new unit will be co-located with the Large Business & International (LB&I) Segment.
Ms Singh holds a Master’s degree specializing in taxation. She joins SARS from Eskom where she served as Finance Executive: Group Insurance and Tax. Her appointment is most opportune as it coincides with a number of recent reports that affect this important segment of taxpayers, including the recently released Pandora Papers.
In line with SARS’ strategic objective to make it easy and simple for taxpayers to comply with their legal obligations, the appointment of Ms Singh is of strategic importance to help improve compliance of wealthy individuals with complex financial arrangements.
Ms Singh said, “I am deeply appreciative of and humbled by the rare privilege entrusted to me as the first Director of SARS’ High Wealth Individuals unit. I am a public servant at heart, and a strong proponent of power of purpose. By marrying my passion for the public sector and hunger for purpose, I hope to honour and positively contribute to SARS’ Higher Purpose of serving the well-being of all South Africans”.
SARS Commissioner Edward Kieswetter said, “We recognize the revenue contribution from this segment, in its various forms, to the Republic of South Africa. We also acknowledge the likely challenges that may arise, or currently exist with regards to the tax affairs and tax obligations of individuals and their families. Wealthy Individuals, tend to arrange their financial affairs in complex on- and off-shore structures, often masking their direct beneficial ownership and true income.”
Mr Kieswetter added that the continuing revelations from global media regarding the financial transactions of high wealth individuals across the world is a matter that needs proper investigation by suitably qualified experts such as Ms Singh. “Whilst our initial selection includes about 1500 wealthy individuals and their related entities, to ensure focus, we will continue to extend our reach to include more individuals and families.
“While SARS is committed to assisting taxpayers with their legal obligations, the organisation is equally determined to detect and deter non-compliance. In addition SARS will not tolerate willful non-compliance and will make it hard and costly for such taxpayers without fear or favour,” Mr Kieswetter added.
Ms Singh takes up her new role at SARS as from 18 October 2021.
Ms Natasha Singh
For more information, contact [email protected]
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