Sars undershoots revenue target, again
The amount collected was R14.6bn short of the revised estimate announced in February, but represents growth of R71.2bn from what was collected in 2017/2018
The SA Revenue Service (Sars) has once again undershot the Treasury’s revenue target. Sars collected R1.287-trillion for 2018/2019, acting commissioner Mark Kingon said at the announcement of the preliminary revenue results in Pretoria on Monday. That was R14.6bn, or 1.1%, short of the revised estimate of R1.302-trillion announced in the February 2019 budget, but still represents growth of R71.2bn, or 5.8%, from the R1.216-trillion collected in 2017/2018. Compared with the initial estimate of R1.345-trillion, this results in a deficit of R 57.4bn, or 4.3%. “The slow improvement in production and employment following poor investment growth in 2018, as well as a moderation in global trade and investment, presented a weaker outlook for the economy,” Kingon said.
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