NEW: SA must raise tax on rich to lift revenue - OECD

Johannesburg - The government should increase taxes on wealthier individuals to help boost revenue needed for the nation’s growing demands, the Organisation for Economic Co-operation and Development (OECD) recommended.

“The tax base is narrow and revenues are too small to meet future spending needs,” the Paris-based group of 34 developed nations said in its Economic Survey on South Africa, released on Friday.

“The public sector will face considerable resource needs in the years ahead to expand social and economic infrastructure. Meeting these needs will require increased revenues.”

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