SARS Announced Preliminary Revenue Collections
Written by Mduduzi Phungula on 3 April, 2023
By: Pamella Majola
The South African Revenue Service (SARS) has collected over two trillion rand in gross tax revenues last year, which is a R123 billion increase from the previous year.
During a media briefing, SARS commissioner Edward Kieswetter has deemed the collection a success, despite missing their revised estimate by five billion rands.
Kieswetter further stated that SARS ended up with a tax buoyancy of 1.36 percent which means that tax revenues in the country are growing faster than the GDP.