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PwC: 50 firms pay quarter of tax coffers

Johannesburg - Fifty of SA's large companies contributed almost a quarter of total government tax collections in the 2010 financial year, according to the PricewaterhouseCoopers (PwC) fourth annual Total Tax Contribution survey released on Wednesday.

"This total tax contribution amounts to 23.51% of total government tax receipts for that year," the company's tax partner, Charles de Wet, said.

Their contribution totalled R140.76bn in the fiscal year ended March 31 2010.

The average total tax rate for respondents was 33.24%, up from 2009 when it was 32.53%. This is a measure of all business taxes against profit before all such taxes.

This meant Tax Freedom Day - the day of the year on which respondents had earned enough profit to pay all their taxes - was celebrated on April 30. The year before it was May 2.

Companies were subject to 22 business-related taxes for the 2010 financial year, compared to 20 in the previous year.

The survey found the mining industry had the heaviest tax burden in 2010, with a total tax rate of 38.26%.

The manufacturing industry - including oil and gas - was the largest tax contributor, paying R63.07bn. This was 45% of the total  R140.76bn of all survey respondents.

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