SA’s catastrophic shortfall in tax revenue could pave road to IMF
A gap would have catastrophic consequences for the government’s budget deficit
05 May 2020 - 20:33
The government faces a potential revenue shortfall of up to R285bn this year, posing a catastrophic scenario which could raise the likelihood of further approaches to multilateral agencies such as the IMF for financial support.
On Tuesday, Sars commissioner Edward Kieswetter said that though it was still “early days”, the tax agency’s initial estimates suggest tax collections will be down by 15%-20% from those forecast in this year's budget, based on April’s revenue collection performance...
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