SARS appoints Natasha Singh to head up High Net Worth Individuals unit

As the head of the unit, Natasha will ensure that it brings in more revenue from wealthy taxpayers.

The South African Revenue Services (SARS) has appointed Natasha Singh to head up its wealthy taxpayers unit.

Natasha, a qualified CA, will join SARS as the first director of its High Net Worth Individuals unit. She joins SARS from Eskom, where she served as the finance executive of group insurance and tax.

SARS described the appointment as being of “strategic importance”. “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,” the company said in a statement.

In heading up the High Net Worth Individuals unit, Natasha’s responsibilities include ensuring the division brings in more revenue from wealthy taxpayers.

SARS Commissioner Edward Kieswetter said the tax agency acknowledged possible “challenges” in collecting revenue from the high-net-worth segment. “We recognise 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,” he said.