SARS collects more than R2 trillion in 2022/23 financial year
Loading player...
GUEST – Johnstone Makhubu - SARS Chief Revenue Officer
South African Revenue Service collected just over R2 trillion in gross tax revenues over the past year, a 9.7% increase from the 2021/22 tax year. The gross revenues were R123 billion, above what the finance minister estimated in the 2022 Budget speech. This was the first time that SARS exceeded the R2 trillion gross tax revenue mark. But it was R5 billion below SARS's own revised estimate. "Basically, for all intents and purposes, we have achieved what the [finance] minister set us out to achieve," said SARS Commissioner Edward Kieswetter. Total tax refunds surged by almost 19% to more than R381 billion, with value-added tax (VAT) refunds increasing by almost 22% to R319 billion.
South African Revenue Service collected just over R2 trillion in gross tax revenues over the past year, a 9.7% increase from the 2021/22 tax year. The gross revenues were R123 billion, above what the finance minister estimated in the 2022 Budget speech. This was the first time that SARS exceeded the R2 trillion gross tax revenue mark. But it was R5 billion below SARS's own revised estimate. "Basically, for all intents and purposes, we have achieved what the [finance] minister set us out to achieve," said SARS Commissioner Edward Kieswetter. Total tax refunds surged by almost 19% to more than R381 billion, with value-added tax (VAT) refunds increasing by almost 22% to R319 billion.
