Prof. Keith Engel on the impact of illicit economy
407 views · Published 3 July 2018 · 9:36 · Indexed 21 September 2026
Channel: SABC News · 2018 · News & Politics
All economic activity whether or not it is legal is subject to taxation. The impact of activities within the illicit economy is a real threat to the country and its impact is huge. The illicit economy refers to economic activities which operate outside of the rules and regulations of the country including organised crime. According to SARS, South Africa is losing a large portion of its GDP every year, to the illicit economy. This has mainly been in the form of smuggling of tobacco products, counterfeit textiles, drug manufacturing and smuggling, illicit mining of gold and diamonds, ivory smuggling and the poaching of endangered species like abalone and rhino. For more news, visit: sabcnews.com
More from this channel
-
3:00
Motion for an ad-hoc committee into state capture rejected
-
4:00
A look at Bontebok National Park
-
24:28
Bophelong, 09 September 2016
-
2:18
Police investigate a case of abuse at a Kempton Park creche
-
8:03
Thank you SABC concert underway in Soweto - Komane updates
-
11:17
Families of illegal miners hoping the rescue operation will resume soon
-
2:32
Latest update on Langlaagte mine, Chriselda Lewis reports
-
6:02
Dries Engelbrecht on Eastern Cape National Parks and what they offer