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SARS welcomes the revised Revenue Estimate

[…] the growth mainly driven by Net corporate income tax (R91.4billion, 55.8%), Net personal income tax (R30.5billion, 7.4%), and Net value added tax (R15.0billion, 5.0%). Collections of excise duties are recovering from the trade restrictions imposed due to the COVID-19 ban on sales, especially on alcohol, with companies now paying duties deferred during the pandemic. […]

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SARS welcomes the revised revenue estimate

[…] been affected by rising unemployment and lower earnings. Corporate Income Tax (CIT) collections have been contracting since 2018/19, driven by amongst others, falling corporate profits. Specific excise duties are expected to fall by nearly 50% as a result of restrictions on trading activity and tax deferrals. Since October 2020, there has been a stronger-than-expected […]

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SARS announces the preliminary Revenue outcome for 2018-19

Pretoria, Monday 1 April 2019 –  For the financial year ending 31 March 2019, SARS collected an amount of R1 287.6 billion, against the 2019 Budget estimate of R1 302.2 billion resulting in a deficit of R14.6 billion (-1.1%). It should be noted that these are preliminary results, which will be subject to detailed financial […]

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SARS to implement emergency tax relief measures

[…] million will be allowed to delay 35% of their Pay –As- You Earn (PAYE) liabilities over the next three months, without penalties or interest. Deferral of excise duties on alcoholic beverages of up to three months by tax compliant licensees in the alcohol sector, on application setting out the circumstances justifying a deferral. The […]

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SARS welcomes the MTBPS Revenue Announcement

[…] billion (12.3%) against the February 2021 Budget Estimate. Year-on-year growth over the prior year was recorded at R201.5 billion (38.9%). All major tax types except for Import Duties and Specific Excise recorded a year-to-date surplus against the estimate. In contribution to the surplus, the major tax types performed as follows against the February 2021 […]

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