Pravin Gordhan raises the alarm over SARS's performance
The R30.4bn revenue shortfall is the largest since the 2009 recession
Finance Minister Pravin Gordhan has raised the alarm over the performance of the South African Revenue Service (SARS), which fell about R30.4bn short of the revenue target for 2016-17 set out in the previous budget. The R30.4bn revenue shortfall is the largest since the 2009 recession and means that tax increases of R28bn are required for the coming year. Gordhan delivered his 2017-18 budget in Cape Town on Wednesday. The Treasury has also flagged "heightened uncertainty regarding the path of revenue collection" as a major risk for public finances over the medium term, with Gordhan telling reporters on Wednesday that he had embarked on an intense set of engagements with senior management at SARS in the past month over his concerns. If you are already a subscriber, please click on the following link below to go to the full article: Pravin Gordhan blames SARS for role in revenue gap If you would like to subscribe to BusinessLIVE Premium to read the full story, please click here.
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