21 October 2026 — Dr. Johnstone Makhubu, Commissioner of the South African Revenue Service (SARS), welcomes the revised revenue estimate of R2.144 trillion announced by Finance Minister Mr. Enoch Godongwana in the Medium-Term Budget Policy Statement (MTBPS).
The revised estimate indicates an increase of R17.1 billion compared to the R2.127 trillion February 2026 Budget estimate. This adjustment is despite downward revision of the real GDP growth from 1.6% to 1.2% in 2026. Despite improved electricity reliability which supports economic activity, structural constraints such as logistics and infrastructure challenges continue to hinder South Africa’s growth prospects.
As of 30 September 2026, SARS collected R992.2 billion in net revenue, which includes gross collections of R1.231 trillion and refund payments totalling R239.1 billion. Net revenue was R15.5 billion, or 1.6%, above the February 2026 Budget estimate, and R67.4 billion, or 7.3%, higher than the corresponding period last year.
This performance was supported by stronger Corporate Income Tax, Domestic VAT and PAYE collections, together with lower-than-estimated VAT refund payments.
“The year-to-date outcome demonstrates the resilience of South Africa’s revenue system. However, as reflected in the Minister’s speech, sustainable revenue growth ultimately depends on economic expansion, investment, job creation and broad-based compliance,” Commissioner Makhubu said.
