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Johannesburg - Finance Minister Pravin Gordhan said on Tuesday that Sars had collected R899.7bn the past financial year, surpassing its target of R899bn.
"It's noteworthy that on the last day [of the fiscal year], 31 March, R29bn had to be collected," he said in Johannesburg.
Sars last year collected R814.1bn, R85.6bn less compared to this year.
Deficit
The R899.7bn collected was a net figure, with over R1trn collected and R191.2bn paid back in refunds.
Given the preliminary target had been reached, government would be able to meet its four percent deficit target, which Gordhan described as "excellent.
"Our fiscal position can be consolidated, reducing the amounts that need to be borrowed," he said.
"Most of the taxes have performed extremely well."
Revised
The three main contributors to revenue collection over the past fiscal year were personal income tax (PIT), corporate income tax (CIT), and value-added tax (VAT).
A total of R310.5bn in PIT was collected, which was R778m (0.3%) higher than estimated. R276.7b was collected last year.
CIT accounted for R179.9bn, R1.2bn (0.7%) above what was estimated. R160.9bn was collected last year, with this year's CIT collections 11.8% higher.
VAT accounted for R237.7bn of revenue collected, R1.6bn (-0.7%) below Sars's revised estimate. VAT collections were 10.6% higher than last year.
