The South African Revenue Service says it collected R1.356 trillion in the financial year ending on 31 March 2020. This is about R66 billion less than expected.
Sars says it collected a gross amount of R1.647 trillion, but this was offset by refunds of almost R300 billion.Measured against the 2019 budget estimate of R1.422 trillion, the net collection indicates that Sars collected a figure less expected. Sars says it has also collected R75 billion from voluntary compliance but continues to lose tax revenue through criminal and fraudulent activities.
“Personal Income Taxes’ we collected R529.9 billion which represents 39% of our total revenue and growth of 7% to the prior year. VAT is R346. 2 billion which is 6.7% of the total. Property taxes make up R16 billion or 1.2 % of our total. Dividend taxes makes 48.3% or 2.1% of our total revenues.”
No surprise because many businesses owned by Indians, Chinese and Pakistanis don't issue sales slips/receipts to buyers. Tax evasion is rife. Useless RSA government can't enforce laws. SARS is the spying agency of some Durban Indians. PresidencyZA ParliamentofRSA
Radio702 but you posted on Facebook that this sarstax commissioner did an excellent job, why are lying and celebrating mediocrity, respect us please
Great work SARS
Collected 5.5 Billion in a week from WMC. No tax returns
How many zeros are there in Trillion?🤔🤔
If they can increase company tax I am sure they will achieve thier projected tax collection targets.
Very poor
Mali ENGAKA?! 👀
That 1 trillion is a 1 with 12 zero's. Think about it.!!!!!!!!! 1 000 000 000 000.
for the love of all things holy!
Wow not surprised ... all of those unemployed! Government not creative at all. SARS sars call centre is the worst! When it’s easy for the person on the other end to tell you ‘this is not an edgars account’ and then dismiss you by disconnecting the call
Siyababongela.
United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Business Maverick: Here’s How Much a Downgrade to Junk Will Cost South AfricaBusiness Maverick: Here’s How Much a Downgrade to Junk Will Cost South Africa By Bloomberg What about opportunities presented by the down grade. In the context of current global economic state, with negative out for all, there was no reason for Moody's to do this. Makes no sense ランド、上げているけどこれから下げる？
Read more »
Fuel price drops - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The fuel price has dropped by almost R2 per litre from midnight, although the nationwide lockdown means most motorists will not benefit from this immediately. CoronavirusInSA coronavirus sabcnews Exactly This government is clever ne? 🤣 TanzieOtsile Register to a platform that can earn you good cash,while you are home and self quarantined instead of staying at home and doing nothing, inbox me and I'll show you how, earn money while you are home and self quarantined its 100% Legit and Trusted. WhatsApp: +14146009041
Read more »
Possible job losses after lockdown - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Labour Expert from Mabhala Consulting, Bukani Mngoma, says people may lose jobs after the COVID19 disaster as employers may want to re-organise operations. sabcnews There's no 'MAY' they will definitely lose jobs.
Read more »