Relief as Sars exceeds revenue target

2011-04-01 12:46

Pretoria  - South Africa collected R674.2bn in revenue in the fiscal year ended March 31, slightly more than a target of R672.2bn, Finance Minister Pravin Gordhan said on Friday.

"The remarkable performance that Sars (the South African Revenue Service) is reporting indicates that our economy is recovering," Gordhan said. He added the fiscal deficit for 2010/11 is likely to be 5.0% of gross domestic product (GDP), lower than the previous forecast of 5.3%.

  • bigbigjoe - 2011-04-01 12:59

    FFS, if all our government bureaucracies and departments were working as well and as efficiently as SARS, we'd be living in a bloody paradise!!!!!!

  • alexander.lombard - 2011-04-01 13:48

    Sars plans to exceed their target next year in that they will stop thretning bussinis owners with closure but use basball bats next year.

  • Just Saying - 2011-04-01 15:01

    On the 29th of March 2011, News24 ran an article stating that SARS needs to collect 42 Billion Rand in three days. The link to that article is higher up this page toward the middle. Does this article now imply that SARS has collected more than R42 Billion from the 29th of March to date or am I missing something?

      Gerald - 2011-04-04 15:50

      Could have been(?). Vat returns at the end of March for Pisces and Virgo bizes.

  • Doohickie - 2011-04-01 15:48

    @Just Saying, The bulk of VAT payments from business come through at the end of the month, literally the last day.

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