Don’t hike VAT, seize assets of state capture looters - Advocate Paul Hoffman

CapeTalk’s Clarence Ford speaks with Advocate Paul Hoffman, director at Accountability Now 

Listen below.

The controversial 2% VAT increase proposed by government would have netted Treasury around R60 billion a year, at the expense of taxpayers.

Hoffman suggests that we should instead focus on aggressively recovering the money taken during state capture.

The estimated financial loss of state capture, he says, is in the trillions.

He argues that we should be attaching (and then freezing) the assets bought by those accused of state capture with looted money.

"If there happens to be a beautiful flat in the largest building in the world in Dubai that belongs to a looter, you don't have to hesitate to attach that flat in the satisfaction of the debt that is owning to the state...the same applies to any asset anywhere."

- Advocate Paul Hoffman, Director - Accountability Now 

“From there you can arrange the forfeiture of the asset to the benefit of the South African purse.”

- Advocate Paul Hoffman, Director - Accountability Now 

He says this is possible but there has been no political appetite to do this.

Scroll up to the audio player for more.