Sars projects annual revenue loss of more than R280bn
The significant decline in tax revenue compared to is due to the lockdown and its adverse effects on economic activity
05 May 2020 - 13:30
Sars is projecting an annual revenue loss of about R285bn based on figures for the first month of the lockdown and the impact of sluggish economic activity, commissioner Edward Kieswetter said on Tuesday.
Kieswetter presented the tax authority’s strategic and performance plans to parliament’s two finance committees and gave a breakdown of the devastating effect of the Covid-19 lockdown and the slowdown in economic activity on tax revenue...
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