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Media Release: SARS committed to achieve higher revenue estimate

Media Release: SARS committed to achieve higher revenue estimate

26 October 2022 – The South African Revenue Service (SARS) welcomes the consistent emphasis by the Minister of Finance, Mr Enoch Godongwana, on ensuring that government finances are spent in an equitable, efficient and flexible manner to support South Africa’s development objectives.

The Minister’s policy message focused on strengthening South Africa’s fiscal integrity over the medium term through managing the county’s finances with prudence. The work of SARS is central in that efficient tax revenue collections contribute to the fiscal space required to attend to important social and investment spending priorities whilst keeping an eye on debt service costs.

Delivering the Medium-Term Budget Policy statement (MTBPS) in Parliament today, the Minister of Finance increased the revenue collection estimate that SARS must collect to R1682bn from R1 598bn. SARS provides about 90 percent of all government revenue, which makes this increase in the revenue to be collected by SARS very significant.

“As SARS, we accept the challenge of the revised higher revenue estimate. While the revised revenue estimate is steep, we are committed to act according to what is permissible in law to meet this challenge.” SARS Commissioner Edward Kieswetter said.

See the full media statement here.

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