Kieswetter warns power cuts will drag down tax take
Sars commissioners says tax collection will come in lower this fiscal year amid worsening load-shedding and rising cost of living
08 February 2023 - 05:06
The SA Revenue Service (Sars) has sounded the alarm that tax collection will come in lower this fiscal year as worsening power cuts and an elevated cost of living combine to hollow out the tax base and heighten the temptation to withhold taxes.
Load-shedding, which has been flagged by market watchers as a drag on SA’s economic prospects, will have a “material impact on [Sars’s] ability to collect revenue”, Edward Kieswetter, the head of the tax collection agency, said...
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