Under-fire South African Revenue Service (SARS) commissioner Tom Moyane says the service is committed to achieving the increased revenue target for 2018, but low tax morality could be a stumbling block. On Wednesday, Finance Minister Malusi Gigaba lifted the new tax-collection target from R1.214-trillion to R1.217-trillion. Gigaba also said SARS had improved collection by R2.6bn, slashing the R50bn shortfall projected in October. This was the result of an improvement in company and trade tax collection in the fourth quarter of 2017. The Treasury still expected a shortfall of R48.2bn for 2017-18, a reflection of weak economic growth, administrative challenges at SARS and increased tax avoidance. To stem tax avoidance and boost public confidence in SARS, which has been mired in controversy, President Cyril Ramaphosa announced in his state of the nation address that an inquiry into the revenue service would go ahead. SARS is also locked in a dispute with KPMG following the audit and ac...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now