SARS boss confident of meeting increased revenue target
Commissioner Tom Moyane assures SA that the agency is up to the challenge of collecting more revenue, despite the lacklustre economy
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...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.