The South African Revenue Service (SARS) collected R1.216-trillion for 2017-18, which was R700m, or 0.06%, short of the revised estimate of R1.217-trillion announced in the 2018 budget. Personal income tax and value-added tax (VAT) were the biggest drivers, but Finance Minister Nhlanhla Nene expects VAT to add even more this year following the one percentage point increase from 14% to 15%. Business Day quoted SARS acting commissioner Mark Kingon as saying that compliance “is of deep concern to us. Some of it is driven by perceptions with regards to SARS and perceptions of the country but some of it is also economical.” Kingon spoke to Business Day TV about the collection and falling short of the 2017-18 target. OR LISTEN TO THE AUDIO: Listen to all latest podcasts here.
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