Finance Minister Nhlanhla Nene has warned the South African Revenue Service (SARS) executives not to stifle attempts to rebuild the institution, saying that loyalty should be to the institution and not individuals. Speaking at the agency’s Brooklyn headquarters on Thursday, he told the staff their job was to serve the people of SA. Nene addressed the revenue service staff at a difficult time, after the suspension of commissioner Tom Moyane and as SARS was set to announce its revenue results soon. The Treasury, in response to questions from Business Day on Thursday, said it was "conservatively optimistic" that SARS would meet its revised targets come March 29. A cumulative R209bn revenue shortfall was anticipated over three years from the medium-term budget announced by former finance minister Malusi Gigaba, starting with the 2017 R50.8bn shortfall. Nene’s address followed Moyane’s suspension by President Cyril Ramaphosa on Tuesday, pending the outcome of a disciplinary hearing. Moya...
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