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SARS welcomes the revised revenue estimate

[…] 50% as a result of restrictions on trading activity and tax deferrals. Since October 2020, there has been a stronger-than-expected rebound in Domestic Value-Added tax (VAT) and Customs duties flowing from the rise in consumption once lockdown restrictions were eased. Monthly domestic VAT collections since August were higher than the corresponding months in 2019, […]

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SARS welcomes the MTBPS Revenue Announcement

[…] Net (51.8%) and Net VAT (0.1%). SARS allowed COVID-19 related deferrals on Specific Excise leading to the underperformance during this period, furthermore imports slightly receded leading to customs duties underperformance. SARS collected R87.0 billion from identifiable compliance activities during the first half of this year. Of this amount, R53.5 billion was collected in cash […]

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SARS welcomes the revised Revenue Estimate

[…] initiatives will help improve the taxpayer experience, as well as improve our capability to detect and address non-compliance. This will not only help bring about modernisation of Customs but also create necessary efficiencies, which can only result in a better service to taxpayers. Nowhere is this process more urgently required than in dealing with […]

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