But it is not clear to me why there should be more stability in the denominator, the discount rate. If anything I would argue the converse, namely there is at least as much uncertainty about the future path of interest rates as in earlier periods. One popular argument for stability is that the low volatility reflects the forward guidance of central banks.
The amnesty succeeded beyond all expectations of the authorities. More than 42 000 people applied for amnesty and more than 99 per cent of these applicants were granted amnesty. All four stated goals of the amnesty were achieved. First, amnesty applicants disclosed undeclared receipts and accruals amounting to R1,36 billion, which will increase the personal income tax base by an estimated R400 million.