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Tax revenue remains stagnant

Oct 22 2012 12:51
Sapa

Cape Town - Tax revenue collection has not recovered much from the 2009 economic slump, SA Revenue Service (Sars) spokesperson Adrian Lackay said on Monday.

Lackay and a Sars team released the latest tax statistics in Parliament.

They showed that R742.6bn in revenue was collected in 2011/12, almost R4bn higher than Finance Minister Pravin Gordhan predicted in his February budget speech.

However, the tax-to-GDP ratio had remained stagnant compared to the figures in 2009, when business and profits in the country were constrained by the global economic crisis.

"The tax-to-GDP ratio in 2008 bordered below 28%, went down to 24.5% the following year, and is now sitting at 24.6%," said Lackay.

This meant companies were still reeling from the after-effects of the constrained economic activity which followed the downturn.


sars  |  tax

 
 
 

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