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The South African Revenue Services (SARS) has exceeded the revenue collection target set in February last year.
The original target of R1.21 trillion was exceeded by R38 billion by 31 March.
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The National Treasury first set the target at R1.425 trillion before Covid-19 impacted theeconomyin March last year.
During the financial period, a total of R63 billion has been collected.
This total includes R12 billion from large businesses and R16 billion from provisional taxpayers.
The South African Revenue Service (Sars) has defeated the odds by exceeding the revenue collection target set last year. Image: Waldo Swiegers/BloombergSource: Getty Images
A report byMoneywebrevealed that SARS has widened the tax base by 1.6 million newly-registered taxpayers.
This total is mostly a combination of pay-as-you-earn (PAYE), VAT and personal income tax.
In similar news,Briefly.co.zapreviously reported onFinance Minister Tito Mboweni’s budget speech.
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This is a big step for the the revenue service and SA as a whole.
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Source: Briefly News
Reeshni ChettyReeshni Chetty is a senior current affairs reporter.
Reeshni has a passion for breaking the stigma surrounding mental health issues.
