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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.

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SARS welcomes the revised Revenue Estimate

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.

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SARS welcomes the MTBPS Revenue Announcement

The South African Revenue Service (SARS) welcomes the unflinching commitment made by the Minister of Finance, Mr Enoch Godongwana, to fiscal sustainability, enabling long-term growth by narrowing  the budget deficit and stabilising debt, when he presented the Medium Term Budget Policy Statement (MTBPS) in Parliament today.

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SARS to implement emergency tax relief measures

President Cyril Ramaphosa on Sunday announced several emergency tax relief measures in response to the continuing Covid-19 pandemic and recent unrest that are aimed at helping affected and tax compliant businesses to recover and ensure livelihoods for employees.

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