“Over the last three years, we have seen a steady improvement at SARS, which has contributed to the necessary improvement in our fiscal position by way of improved revenue collections and coordination of cash-flow management in conjunction with the National Treasury resulting in improved public debt management,” the minister said, speaking at his first Budget Vote in Parliament on Wednesday .
Godongwana said that SARS will continue to expand the tax register, respond to illicit trade by removing illegal imports from circulation, investigate syndicate tax and customs crimes as well as investigate and hand State Capture related cases over to the NPA. “Over the past two years, tax policy has focused on broadening the tax base, improving revenue administration and reducing the tax burden on the tax base to stimulate economic growth,” it said.
The main sources of revenue that contributed to the R1 563.8 billion collected were Personal Income Tax , which contributed R555.8 billion , Value-Added Tax contributing R390.7 billion , Company Income Tax , which contributed R323.6 billion and Customs duties contributed R58 billion .
Yeah. Whatever. SARS. Best performing government department of all time 😵 least able to ensure our taxes are used without corruption.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BusinessTechSA - 🏆 24. / 61 Read more »
Source: BusinessTechSA - 🏆 24. / 61 Read more »