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Applying An Ethical Benchmark To Tax Planning (Part 2 Of 3)

Part 1 of the article, published in CA Lab in May, set out “tax planning” arrangements that are regarded as legitimate and within the scheme and purpose of the tax statute, using the Supplementary Retirement Scheme and tax exemption accorded by the Estate Duty Act as examples.

We next discuss the terms “tax evasion” and “tax avoidance”, which may be treated by the layman as synonymous and he may also use the two terms interchangeably. However, the activities pertaining to “tax avoidance” and “tax evasion” can lead to quite distinctively different consequences. 

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