Tax take stays strong but risks to fiscus intensify
The mining and manufacturing sectors have for the past decade been held hostage by structural constraints
06 March 2023 - 20:27
The SA Revenue Service (Sars) and the National Treasury released the country’s tax statistics last week, and while fiscal year 2021/2022 saw an annual increase of R314bn, slowing economic growth and the high rate of joblessness will hit company bottom lines and personal income tax collections.
This comes as the National Treasury faces more pressure from unions to increase public-sector wages by higher than the budgeted amount, a move sure to blow the fiscus’s expenditure trajectory...
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