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[…] Tax (VAT) and Corporate Income Tax (CIT), which make up more than 80% of the total tax revenue. Contracting imports also resulted in lower revenue from customs duties and import VAT. Despite increases over the past five years, tax revenue as a proportion of GDP has started to decline. The tax-to-GDP ratio is estimated […]

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SE-TOB-02 – Tobacco – External Policy

[…] movements as these are dealt with in document SE-CON-02; vi) Accounting for duty / levy as this is dealt with in document SE-GEN-02; vii) Introduction to Excise Duties, Levies and Air Passenger Tax as this is dealt with in document SE-GEN-04-G01; viii) Licensing requirements as this is dealt with in document SE-LR-02; ix) Prescribed […]

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SARS-AR-08 – Annual Report 2005-2006

[…] from the South African Revenue Service. Enjoying its sixth consecutive year of uninterrupted growth, South  Africa’s economic expansion provided the platform for revenue collection  enhancements across almost all tax types. This resulted in SARS  collecting R417,33 billion, exceeding its original target of R372,8 billion  by over R44 billion. It was a steep mountain to climb, but with passion,  commitment and sheer dedication, SARS’s staff made it to the summit. Key components of this collection were: •  Personal income tax: Collections amounted to R126,4 billion, exceeding the original estimate  by R8,8 billion. This growth – on the back of a 9,5% growth in the tax register – is further  evidence of increased job creation over the past fi nancial year and higher average wages •  Corporate income tax: Collections amounted to R87,3 billion, exceeding the original estimate by  R17,7 billion. Strong economic growth, especially in the fi nancial services, telecommunication,  wholesale and retail, construction and property sectors, was a primary factor in this area of  collections as well as improved provisional tax payments through engagements with large  corporates by the Large Business Centre and the effective application, where necessary, of  Paragraph 19 (3) of the Income Tax Act •  VAT: Strong consumer spending buoyed by the growing economy, relatively low interest  rates and a stronger rand saw VAT collections once again perform beyond expectations.  VAT collections totalled R114,4 billion for the year in review, R8,4 billion ahead of the printed  estimate •  Customs duty: Linked to strong consumer spending and a more stable rand was a growth in  domestic demand for imported products which saw R18,3 billion in customs  duties collected  during the year, R5,3 billion beyond the original estimate. Most importantly, the revenue gains provided government with funding to further expand its social  development programmes while at the same time providing additional tax relief to taxpayers,  including over R7,1 billion in relief for individuals. It did this while maintaining its strict fi scal discipline  of a budget defi cit of below 3%. Annual Report2.indd Sec2:9Annual Report2.indd Sec2:9 9/14/06 10:21:38 PM9/14/06 10:21:38 PM South African Revenue Service Annual Report 2005/06  6 Sustainable revenue collection improvements cannot only rely on economic growth. They must be  coupled with improved compliance and enhanced service and effi ciency from SARS. I am pleased  to report advances in both these areas during the year under review. Ongoing education and awareness, in tandem with improvements in our enforcement abilities,  saw further gains in tax compliance. At the forefront of this drive to enhance voluntary compliance  was our annual Filing Season campaign which continues to be a defi ning moment in the annual  tax calendar. Once again tax registrations grew and we witnessed further impressive leaps in the  number of taxpayers who engaged with SARS and submitted their returns by the deadline. Most  heartening to note is that increasingly, South Africans are accepting not just their legal duty to meet  […]

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Tax Statistics 2021 Highlights

[…] of a carbon tax and an increase in the plastic bag levy. Inflation -linked increases were proposed for the general fuel levy and alcohol and tobacco excise duties . The 2020 Supplementary Budget announced tax policy proposals to increase tax revenues over the medium term by R 40 billion. However, given the higher -than […]

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LAPD-CGT-G01 – Comprehensive Guide to Capital Gains Tax

[…] definitions Comprehensive Guide to Capital Gains Tax (Issue 9 ) 45 45 In CIR v Estate CP Crewe & another in relation to the determination of estate duties, Watermeyer CJ said the following: 144 ‘One would expect that when the estate of a person is described as consisting of property, what is meant by […]

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SARS-Stats-2009-01 – Tax Statistic Full Document for the year 2009

[…] Value-added tax gives an overview of value-added tax (VAT). It gives a breakdown of VAT receipts and refunds by sect or and payment category. Chapter 5: Customs/import duties provides information on the customs value of imported goods by product type in terms of the Harmonised System 1, second digit level (chapter-level), as well as […]

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