Hon Speaker, I would like to thank the hon Shivambu for this question. What he has asked about is not a new phenomenon for developing countries, and particularly for many of our countries on the African continent. Speaking for us as a country, let me say since 1994 our government has worked hard to ensure that we have systems, structures and institutions such as the SA Revenue Service, Sars, and the SA Reserve Bank, SARB, to look closely at the matters that he has raised.

Working together with these institutions as well as the prosecuting authorities, we have made, I would say, a great deal of progress in closing the loopholes that can be used for tax evasion. As I indicated in my previous response, the legal and financial regulatory framework to deal with illicit financial flows has been significantly improved in South Africa. It is sound and effective, and the SA Revenue Service continues to expand its revenue collections as a result of this. At the continental level, the recent report of the high-level panel on illicit financial flows from Africa aims to assist the continent to deal with this problem in a collective manner and to take steps to radically reduce those outflows and ensure that Africa's development resources remain on the continent.

The report itself recommends that existing laws which have proven successful in combating illicit financial flows should be replicated as global best practice and standards. It is noteworthy that the very same report makes mention of how South Africa's tax laws enabled our country to deal with a case of abusive transfer pricing and successfully reclaim up to US$2 billion of unpaid taxes.

As indicated by Minister Nene during his Budget speech, the government is taking a lot of steps to enforce our efforts to combat financial leakages. Thank you very much.