# Finance minister Enoch Godongwana has cautioned against implementing a wealth tax, stating it could jeopardise seven-billion-rand in annual income tax from approximately two-thousand-850 high-net-worth individuals. These individuals, each possessing over 50-million-rand in assets, contribute significantly to the nation’s revenue. Godongwana emphasised that introducing such a tax might prompt these taxpayers to relocate, thereby eroding the tax base. He advocates for alternative measures to enhance revenue without risking capital flight.
Godongwana warns wealth tax could cost SA R7-billion