THE BAD

Finweek English Edition - - The Week -

Tax rev­enue for the first quar­ter has come in well be­low the South African Rev­enue Ser­vices’ (Sars’s) orig­i­nal es­ti­mate, miss­ing the R110bn tar­get by R13.1bn. BDLive re­ported per­sonal in­come tax came in at R104.4bn com­pared to the R110bn tar­get, cor­po­rate in­come tax at R54bn (tar­get: R57bn), div­i­dend tax at R7.2bn (tar­get: R9.5bn), VAT col­lec­tions at R63bn (tar­get: R64.7bn) and cus­toms du­ties at R8.9bn (tar­get: R9.7bn). Lower per­sonal in­come tax was mainly due to pay-as-youearn tax (a R4.7bn short­fall), said the re­port.

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