The South African Revenue Service has been on President Cyril Ramaphosa's radar since he assumed office, says Deputy Finance Minister Mondli Gungubele. SARS commissioner Tom Moyane was suspended on Monday.  “Before we left for the investor road show, the issue of the state of SARS was being discussed. That has always been treated as an urgent matter because of low tax morality and a lack of confidence from tax payers,” he said at a press briefing in Sandton on Thursday. The message from credit rating agencies seemed positive, he said. “We had a session with almost all the rating agencies. We had very positive discussions which were very frank and honest. Anxiously and with all humility, I am expecting something better.” Moody’s is the only one of three major ratings agencies that still rates SA’s foreign currency and rand-denominated debt at investment grade. It is expected to make an announcement on SA's rating on Friday. A downgrade would lead to SA’s expulsion from the Citi world...

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 or call 0860 52 52 00. Got a subscription voucher? Redeem it now