Finweek English Edition - - THE WEEK -

The South African Rev­enue Ser­vices (Sars) has col­lected R1.07tr in taxes in the 2015/16 fi­nan­cial year – a new record for the agency – and re­flect­ing a year-on-year in­crease of 8.5%. The in­crease in col­lec­tions was hailed given the tough eco­nomic cli­mate, with the coun­try fac­ing de­clin­ing GDP growth. Per­sonal in­come tax col­lec­tions were up 10% to R389.3bn, while cor­po­rate in­come tax col­lec­tions grew 3.7% to R193.5bn. VAT col­lec­tions were 7.4% higher at R280.8bn, it said.

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