SARS response to PAIA request by Mr John Steenhuisen
SARS confirms that it has responded to the request by the leader of the Democratic Alliance, Mr John Steenhuisen, made in terms of section 18(1) of the Promotion of Access to Information Act (PAIA) regarding the declaration of a certain traveller.
Release of the 15th Annual Edition of Tax Statistics
National Treasury and the South African Revenue Service have published the 15th annual edition of the Tax Statistics. The 2022 edition provides an overview of tax revenue collections and tax return information for the 2018 to 2022 tax years, as well as the 2017/18 to 2021/22 fiscal years.
Trade Statistics for January 2023
SARS today releases trade statistics for January 2023 recording a preliminary trade balance deficit of R23.05 billion, with exports of R139.4bn and imports of R162.4bn.
Joint operation nets illicit cigarettes worth millions
The South African Revenue Service’s National Customs Enforcement Team working together with the South African Police Service and South African Defence Force over the weekend of 25-26 February intercepted truckloads of illicit cigarettes, based on intelligence received.
New accord further cements collaboration between SAPS/ DPCI and SARS
Enhanced cooperation and collaboration between SAPS/ DPCI (Hawks) and SARS is being bolstered with the signing of a new memorandum of understanding that promotes the exchange of information, joint initiatives and more effective operational arrangements in line with Financial Action Task Force (FATF) requirements.
SARS Customs and SAPS seize 378 kg of cocaine
Customs officers of the South African Revenue Service (SARS) and the South African Police Service carried out an early morning raid today on a container ship at the Durban harbour and found 300kg of cocaine in one of the containers on board the ship.
SARS continues to show its mettle in revenue collection
The South African Revenue Service (SARS) accepted the increased revenue collection estimate announced by Minister of Finance, Mr Enoch Godongwana. In his 2023 Budget Speech, the Minister increased the revenue estimate to R1.69 trillion, an increase of R93.7 billion from the 2022 February Budget statement.
Trade Statistics released for December 2022
SARS today releases trade statistics for December 2022 recording a preliminary trade balance surplus of R5.43 billion attributable to exports of R163.27 billion and imports of R157.83 billion.
Transfer pricing: Intra-Group Loans
The South African Revenue Service (SARS) has today released an interpretation note titled “DETERMINATION OF THE TAXABLE INCOME OF CERTAIN PERSONS FROM INTERNATIONAL TRANSACTIONS: INTRA-GROUP LOANS” which provides guidance on how SARS will determine arm’s length pricing for intra-group loans. The Note also provides guidance on the consequences for a taxpayer if the amount of debt, the cost of debt or both are not arm’s length.
Trade Statistics for November 2022
The South African Revenue Service (SARS) today releases trade statistics for November 2022 recording a preliminary trade balance surplus of R7.98 billion attributable to exports of R172.67 billion and imports of R164.69 billion.
