Pay as little tax as possible – Dawie Roodt

Efficient Group chief economy Dawie Roodt has advised South Africans to pay as little tax as possible without breaking the law.

Roodt gave this advice at a Masthead event about global trends, South Africa’s political landscape, and the economic outlook with load-shedding.

He told delegates that the political and economic uncertainties in South Africa are set to continue for longer, which should inform people’s investment decisions.

Roodt advised South Africans to make sure a substantial part of their portfolio is invested abroad.

Apart from protecting your wealth against political and economic problems in South Africa, there are also more investment opportunities in international markets.

Another piece of advice to delegates was, “Don’t break any laws, but pay as little tax as possible”.

Roodt previously explained that taxpayers should object to the government’s overspending by using legal means to pay as little tax as possible.

“I encourage people not to break any laws but to make use of every possible loophole to pay as little tax as possible in South Africa,” he said.

“One rand in your pocket is worth much more than one rand in the pocket of the civil servants,” Roodt previously told delegates at the Tax Indaba.

However, he warned against a tax revolt or stopping to pay taxes altogether, as it would have severe consequences for the country.

“Once people stop paying taxes, including municipal levies, getting them to start paying taxes again – even under a new government – is difficult,” he said.

“Of course, you have to pay your taxes, but nothing more.”