Trade statistics for November 2024
Published Date: 31/12/2024South Africa recorded a preliminary trade balance surplus of R34.7 billion in November 2024 attributable to exports of R180.9 billion and imports of R146.2 billion.
Joint media statement National Treasury and South African Revenue Service on the release of the 17th annual edition of Tax Statistics
Published Date: 10/12/2024National Treasury and the South African Revenue Service (SARS) have jointly published the 17th annual edition of the Tax Statistics. The 2024 edition reviews tax-revenue collection and tax-return information for the 2020 to 2024 tax years, as well as for the 2019/20 to 2023/24 fiscal years.
SARS hosted a transformative 91st WCO Policy Commission meeting in Cape Town
Published Date: 06/12/2024The South African Revenue Service (SARS) proudly hosted the 91st World Customs Organization (WCO) Policy Commission Meeting in Cape Town. This meeting was a milestone for the global customs community. The highly anticipated gathering brought together customs leaders and experts from around the world to deal with the evolving challenges of international trade and to shape the future of customs practices.
South Africa elected as new Chair of the African Tax Administration Forum (ATAF)
Published Date: 06/12/2024South Africa, represented by Commissioner Edward Kieswetter, was elected unopposed as the new Chair of the ATAF Council for a two-year period during ATAF’s 8th General Assembly convened in Kigali, Rwanda on 4 December 2024. In support of SARS’ strategic objectives that emphasises the need and importance to work with and through key stakeholders to improve the tax eco-system – domestically, regionally and internationally.
SARS HOSTING OF THE 91st MEETINGS OF THE WORLD CUSTOMS ORGANIZATION (WCO) POLICY COMMISSION IN CAPE TOWN, FROM 3 TO 5 DECEMBER 2024
Published Date: 29/11/2024Next week Cape Town will become the centre for global customs and trade facilitation discussions when South Africa hosts the WCO Policy Commission meetings in the city over 3-days from 3 to 5 December. SARS Commissioner Kieswetter as the WCO Council Chairperson will oversee the proceedings.
Trade Statistics for October 2024
Published Date: 29/11/2024South Africa recorded a preliminary trade balance surplus of R14.6 billion in October 2024. This surplus was attributable to exports of R179.6 billion and imports of R165.0 billion.
Search-and-seizure operation at Ms Mkhize’s premises
Published Date: 26/11/2024The South African Revenue Service (SARS) is pleased to announce a significant development in our effort to combat tax evasion and criminal activity that undermines the country’s economy.
The latest Two-Pot withdrawals
Published Date: 19/11/2024The South African Revenue Service (SARS) seeks to update the total figures for tax directives received concerning withdrawals from the Savings Withdrawal Benefit under the two-pot system. Since its inception, SARS has observed an unprecedented and steady increase in tax directive applications, likely reflecting the economic challenges faced by households.
As of 18 November 2024, 2,153,942 directive applications were received and a total of 1,914, 306 directives issued with a total gross value of R49 577, 355, 406.14.
Commissioner Edward Kieswetter appointed as Vice Chair of the OECD Forum on Tax Administration (FTA)
Published Date: 15/11/2024The Commissioner for South African Revenue Service (SARS), Mr. Edward Kieswetter was appointed as Vice Chairperson of the OECD Forum on Tax Administration.
Trade Statistics for September 2024
Published Date: 31/10/2024South Africa recorded a preliminary trade balance surplus of R12.8 billion in September 2024 attributable to exports of R170.7 billion and imports of R157.9 billion, inclusive of trade with Botswana, Eswatini, Lesotho and Namibia (BELN).
In tough economic conditions SARS increases its compliance focus
Published Date: 30/10/2024The South African Revenue Service (SARS) welcomes the Medium-Term Budget Policy Statement (MTBPS) tabled in Parliament today by the Minister of Finance, Mr Enoch Godongwana. The Minister revised the 2024 February Budget net tax revenue estimate from R1 863.0 billion to R1 840.8 billion.
SARS welcomes the High Court decision on Mr Roux Shabangu
Published Date: 18/10/2024The Commissioner for the South African Revenue Service (SARS) Mr. Edward Kieswetter has welcomed the decision of the Gauteng North High Court Division that held Mr. Ngwane Roux Shabangu accountable for his failure to pay SARS the outstanding taxes owed by him and his linked entities. Mr. Shabangu has various business interests in the construction and property industry.
SARS is engaging with industry to avert fuel shortages
Published Date: 15/10/2024After careful consideration, SARS Commissioner has granted special permission for the importation of kerosene fuel from 21 October 2024 until 20 October 2025. The special permission is granted to allow parties to attend to the complexities involved in the process of the deregistration of manufacturing warehouses and reregistration of affected storage facilities.
SARS is engaging with industry to avert any fuel shortages
Published Date: 14/10/2024The South African Revenue Service (SARS) has noted media statements alluding to the pending shortage of jet fuel, known as kerosene, due to what is purportedly SARS’ dithering to issue licences to fuel companies. This is an incorrect position. The importation and movement of both aviation kerosene and illuminating kerosene is strictly governed by the Customs and Excise Act.
Tito Mboweni was integral to SA’s macro-economic stability
Published Date: 13/10/2024The South African Revenue Service (SARS) pays special tribute to the late Mr. Tito Mboweni who helped to stabilize our macro-economic landscape in the pivotal roles he played as Governor of the Reserve Bank and Minister of Finance, working closely with SARS as part of the broader Finance family.
More than 1 million taxpayers withdraw from their savings pot
Published Date: 11/10/2024The South African Revenue Service (SARS) wishes to announce that to date it has received 1,213,646 applications for tax directives for withdrawals from the Savings Withdrawal Benefit of the two-pot system. Of the total number of applications 1,148,729 tax directives were approved for funds to be released. The remainder were declined for a variety of reasons, including incorrect Identity Numbers, incorrect tax numbers, amongst others.
SARS Customs officers in R25 million cocaine bust
Published Date: 11/10/2024Customs officers of the South African Revenue Service (SARS) uncovered 47 bricks of compressed cocaine, with an estimated street value of R25 million, at the OR Tambo International Airport this morning.
SARS Warns About Crypto Asset Compliance
Published Date: 09/10/2024The South African Revenue Service (SARS) has noted the phenomenal growth of the use of various digital currencies by many South Africans. Prominent amongst these is the prevalence of crypto assets. A staggering number of more than 5.8m South Africans hold a crypto asset, with Southern Africa boasting the largest uptake of Bitcoin in the world.
Constitutional court ruling on ‘conduit principle’ and capital gains liability in multiple tiered Trust structure
Published Date: 08/10/2024The Commissioner for the South African Revenue Service (SARS) welcomed the Constitutional Court judgement handed down on 02 October 2024 by the Constitutional Court on the matter of The Thistle Trust v Commissioner of SARS. The matter concerned the applicability of the ‘conduit principle’ to capital gains when distributed in a multiple-tiered Trust structure in the same tax year. The Constitutional Court ruled in favour of SARS’ application of the statutes to the tax liability of the taxpayer, Thistle Trust.
TV Producer and Co-accused appear in court for Tax Fraud
Published Date: 01/10/2024Joint media statement: Investigating Directorate against corruption (IDAC) and the South African Revenue Service (SARS). A well-known television producer and businessman, Dumakude Mayivuke Ndlovu together with two of his co-accused, Rodney Mutsharini, a registered tax practitioner who assisted Ndlovu with his Personal Income Tax (PIT) and Maxwell Mloyi, who is an unregistered tax practitioner but assisted Ndlovu with his Company Income Tax (CIT), appeared before the Palm Ridge Specialised Commercial Crime Court on 18 charges of tax fraud relating to Ndlovu’s personal and company income tax valued at approximately R26 million.
Trade Statistics for August 2024
Published Date: 30/09/2024South Africa recorded a preliminary trade balance surplus of R5.6 billion in August 2024 attributable to exports of R165.6 billion and imports of R159.9 billion.
The Passing of Former Minister Pravin Gordhan, a Fearless Ambassador for Public Service
Published Date: 13/09/2024Today is a day of profound sadness with the passing of the beloved Former Minister Pravin Gordhan, affectionately known as “PG” to many of us, a remarkable steward leader whose contributions to the South African Revenue Service (SARS) and our nation will be remembered for generations to come.
Preliminary amount of R4.1bn applied for in two pot system
Published Date: 11/09/2024The South African Revenue Service (SARS) has received a total 161,607 tax directive applications.
Trade Statistics for July 2024
Published Date: 30/08/2024South Africa recorded a preliminary trade balance surplus of R17.6 billion in July 2024 attributable to exports of R175.0 billion and imports of R157.4 billion.
Media Statement on Profile Hijacking
Published Date: 29/08/2024Tax Implications of Withdrawing from Two-Pot Retirement System
Published Date: 23/08/2024Persons who intend to withdraw from the savings pot of the Two-Pot Retirement System from 1 September 2024 must be registered for tax. Those who are not registered must register before they apply to their relevant fund. If a person is not registered for tax, the request for a tax directive sent from the fund to SARS will be rejected.
Changes to Customs import system
Published Date: 08/08/2024The South African Revenue Service (SARS) remains committed to providing clarity and certainty in the implementation of its mandate of promoting legitimate trade for the economic development of the country in an era of rapidly expanding e-Commerce. This will be achieved by making it simple and easy to facilitate an increased movement of goods.
Trade Statistics for June 2024
Published Date: 31/07/2024South Africa recorded a preliminary trade balance surplus of R24.2 billion in June 2024. This surplus was attributable to exports of R172.0 billion and imports of R147.7 billion, inclusive of trade with Botswana, Eswatini, Lesotho and Namibia (BELN).
Refund reversal resolved
Published Date: 25/07/2024The South African Revenue Service (SARS) has noted the challenges with respect to refund reversal on some of the accounts of taxpayers. Since the beginning of the Filing Season, SARS has paid out in excess of R14 Billion to 1.5 million taxpayers. The information at SARS’ disposal indicate that 30 thousand taxpayers have witnessed reversal of their refunds.
SARS Media statement: Assassination attempt of Advocate Naude
Published Date: 18/07/2024The Commissioner for the South African Revenue Service (SARS) Mr Edward Kieswetter said that “he condemns in the strongest possible terms attempted assassination of Advocate Coreth Naude.
Media Statement: Commissioner Edward Kieswetter’s address on Filing Season 2024
Published Date: 16/07/2024The Commissioner for the South African Revenue Service (SARS), Mr Edward Kieswetter expresses, his sincere gratitude to all taxpayers who interacted with SARS over the past two weeks. This includes those who were part of the Individual Tax Filing Season 2024 that commenced yesterday, 15 July 2024 and will run until 21 October 2024 and 20 January 2025 for non-provisional and provisional taxpayers, respectively.
SARS welcomes Finance leadership
Published Date: 03/07/2024The Commissioner for the South African Revenue Service (SARS), Mr. Edward Kieswetter, warmly welcomes the reappointment of Mr. Enoch Godongwana, as the Minister of Finance and Dr David Masondo as the Deputy Minister of Finance, as well as the appointment of Mr. Ashor Sarupen as the second Deputy Minister of Finance.
World Customs Organisation re-elects SARS Commissioner by Acclamation
Published Date: 30/06/2024The highest decision-making body of the World Customs Organisation, the WCO Council, has re-elected SARS Commissioner Edward Kieswetter as the WCO Chairperson for a second term, 2024 – 2025.
SARS announces the start of the Filing Season for 2024 tax year
Published Date: 28/06/2024The South African Revenue Service (SARS) announces 15th July 2024 as the start of the Filing Season for provisional and non-provisional taxpayers who are required to file a tax return. Auto-assessments for an expanded pool of taxpayers will run from the 1st to the 14th July 2024.
Trade Statistics for May 2024
Published Date: 28/06/2024South Africa recorded a preliminary trade balance surplus of R20.1 billion in May 2024. This surplus was attributable to exports of R178.4 billion and imports of R158.3 billion, inclusive of trade with Botswana, Eswatini, Lesotho and Namibia (BELN).
Media statement on SHL Wholesalers Tax Case in Court
Published Date: 07/06/2024The South African Revenue Service (SARS) confirms that the Gauteng South Regional Division sentenced Suhayle Ballim, the sole member of SHL Wholesalers CC (SHL) to 15 years’ direct imprisonment for defrauding the organisation.
Trade Statistics for April 2024
Published Date: 31/05/2024South Africa recorded a preliminary trade balance surplus of R10.5 billion in April 2024 attributable to exports of R169.5 billion and imports of R159.1 billion.
Findings and recommendations of the Time Release Study conducted at the Oshoek port of entry between South Africa and eSwatini
Published Date: 20/05/2024The Customs Division of the South African Revenue Service (SARS) and the Eswatini Revenue Service (ERS) today made public the findings of a Time Release Study (TRS) on the flow of trade between Eswatini and South Africa at the Oshoek / Ngwenya border post that the two countries share.
Trade statistics for March 2024
Published Date: 30/04/2024South Africa recorded a preliminary trade balance surplus of R7.3 billion in March 2024. This surplus was attributable to exports of R164.1 billion and imports of R156.8 billion, inclusive of trade with Botswana, Eswatini, Lesotho and Namibia (BELN).
Non-profit sector in South Africa assessed for exposure to terrorist financing risk
Published Date: 18/04/2024South African government and private sector partners published a report on the terrorist financing risk assessment on the non-profit organisation (NPO) sector that will result in focused, proportionate, and risk-based measures to mitigate the identified risks.
SARS media statement on constitutional court judgement
Published Date: 15/04/2024The South Africa Revenue Service (SARS) wishes to comment briefly on the decision of the Constitutional Court issued on 12 April 2024 in the matter between Capitec Bank Limited v SARS.
Compliance efforts of SARS bear fruit and underpin the positive revenue results despite the tough prevailing economic conditions
Published Date: 02/04/2024The South African Revenue Service (SARS) is pleased to announce its preliminary revenue collection outcome for the 2023/24 fiscal year.
Trade Statistics for February 2024
Published Date: 28/03/2024South Africa recorded a preliminary trade balance surplus of R14.0 billion in February 2024. This surplus is attributable to exports of R161.8 billion and imports of R147.8 billion.
Taxpayers called to settle tax payments with SARS this week
Published Date: 26/03/2024As the tax revenue financial year draws to a close this week, the South African Revenue Service (SARS) has labelled March a priority month for taxpayers and traders to settle their tax and customs payments and tax and customs debt on or before the last business day of this month, which is Thursday, 28 March 2024.
SARS welcomes High Court decision on BPSA
Published Date: 04/03/2024The Commissioner for the South African Revenue Service (SARS), Mr Edward Kieswetter, welcomed the High Court decision, which dismissed an application for leave to appeal by British Petroleum of South Africa (BPSA) to review the Commissioner’s decision to refuse its refund claims and levy forfeiture under the Promotion of Administrative Justice Act (PAJA).
Trade statistics for January 2024
Published Date: 29/02/2024Today, the South African Revenue Service (SARS) releases trade statistics for January 2024, recording a preliminary trade balance deficit of R9.4 billion. The deficit is attributable to exports of R144.3 billion and imports of R153.7 billion, inclusive of trade with Botswana, Eswatini, Lesotho and Namibia (BELN).
Commissioner Kieswetter’s term extended
Published Date: 27/02/2024The South African Revenue Service (SARS) confirms that President Cyril Ramaphosa requested the SARS Commissioner Mr. Edward Kieswetter to stay beyond his current term, which was meant to expire on 30 April 2024. Both parties agreed to the extension of his term as Commissioner for a period of two years.
SARS confirms legal action
Published Date: 27/02/2024The Commissioner for South African Revenue Service (SARS) Mr Edward Kieswetter hereby confirms that SARS has instituted legal proceedings against Sasfin Bank, as disclosed in the SENS announcement issued by Sasfin Holdings Ltd on 27 February 2024.
SARS is committed to supporting fiscal consolidation though improved tax administration
Published Date: 21/02/2024The Commissioner for the South African Revenue Service (SARS), Mr Edward Kieswetter, reaffirmed the organisation’s commitment to supporting Finance Minister Mr Enoch Godongwana’s strategy for fiscal consolidation over the medium term. “A well-functioning tax administration within a growing economy is the most sustainable path towards improving the country’s fiscal integrity,” said the Commissioner.
Trade Statistics for December 2023
Published Date: 31/01/2024South Africa recorded a preliminary trade balance surplus of R14.1 billion in December 2023. This surplus was attributable to exports of R164.0 billion and imports of R149.9 billion, inclusive of trade with Botswana, Eswatini, Lesotho and Namibia (BELN).
Compliance focus for transfer pricing adjustments
Published Date: 19/01/2024The South African Revenue Service (SARS) has today published draft rule amendments for public comment with the view to facilitate transfer pricing adjustments.
Deadline for provisional taxpayers, including trusts, is Wednesday 24 January 2024
Published Date: 18/01/2024The deadline for individual taxpayers and trusts that are provisional taxpayers to file their income tax returns for the 2023 tax year, is Wednesday 24 January 2024. The 2023 year of assessment refers to the period between 01 March 2022 to 28 February 2023.
“Artwork” drugs seized at ORTIA
Published Date: 06/01/2024Customs officers of the South African Revenue Service seized 23 kilogrammes of narcotics disguised as moulded artwork, with an estimated street value of R37-million, at the cargo sheds of the OR Tambo International Airport this week.
