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SARS welcomes the upwardly revised revenue collection estimate announced by Minister of Finance, Mr Enoch Godongwana. In his 2022 Budget Review speech, Minister increased the revenue estimate to R1 547.07 billion from the February 2021 budget estimate of R1 365.1billion. The 2021/22 revenue yield is expected to result in the tax-to-GDP ratio reaching 24.7%, which is higher than pre-COVID level and that indicates that the extraction rate is on a positive trajectory.

SARS welcomes the commitment made by the Minister of Finance Tito Mboweni to reduce the budget deficit and achieve higher economic growth when he presented the Medium Term Budget Policy Statement (MTBPS) in Parliament earlier today.

The South African Revenue Service (SARS) welcomes the upwardly revised revenue collection estimate announced by the Minister of Finance Tito Mboweni in his 2021 Budget Review presentation in Parliament today.