Fin24

Tax revenue remains stagnant

2012-10-22 12:51

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.


Comments
  • thepatrickwinter - 2012-10-22 13:02

    Duh, if you expected it to grow, you are clearly in the wrong job. I believe there are some mining positions open. Sorry, thats a very insensitive remark to the miners.

      grootrot.vanzyl - 2012-10-22 13:43

      But Zuma stealing increased, thus less money for the poor or services to them. Then again Zuma's policy on the poor is: [Insert rude word here] the poor.

      claudia.meads - 2012-10-22 16:57

      According to SA's Minister of Finance - who thinks that running an economy is like running a stall at the Oriental Plaza - claims that a stagnant Tax/GDP ratio "...meant companies were still reeling from the after-effects of the constrained economic activity which followed the downturn..." While the reality is rather - his Afro-fascist regime is lying about SA's growth rate...

  • denis.dendrinos - 2012-10-22 13:22

    and they're desperate for every cent! Going after a 74 year old for 3c outstanding...3 cents. You can't even pay that in change any more and writing a cheque (as she still does) costs more than those 3c!

  • sidney.gilroy - 2012-10-22 13:48

    You have it wrong Pravin. It is not that the tax base is not growing. You have just reached the saturation-point for the maximum amount of tax you can collect out of the minimum economically active citizens. Wake up you idiot. Lower the tax-treshold to include the benificiaries of the majority of the tax collected. (free this...free that...)

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