Sars aims to col­lect R1.265 tril­li­on t­his tax se­a­son

Suid-Kaap FORUM - - News -

SOUTH A­FRI­CA With the 2017 tax se­a­son in full swing, the South A­fri­can Re­ve­nue Ser­vi­ce (Sars) is tar­ge­ting re­ve­nue col­lecti­on of R1.265 tril­li­on.

“Sars wis­hes to in­form the me­dia that the new re­ve­nue tar­get for the 2017/18 fi­nan­ci­al y­e­ar is R1.265 tril­li­on,” Tom Moy­a­ne (Com­mis­si­o­ner :Sars). The tax se­a­son o­pe­ned on 1 Ju­ly for eFi­lers, w­hi­le it o­pe­ned on Mon­day 3 Ju­ly for tho­se fi­ling their tax re­turns at Sars bran­ches. Sars said it does not de­ter­mi­ne the re­ve­nue tar­get but that it is de­ter­mi­ned by the Re­ve­nue A­na­ly­sis Wor­king Com­mit­tee (RAWC). The com­mit­tee com­pri­ses Na­ti­o­nal Tre­a­su­ry, the South A­fri­can Re­ser­ve Bank (SARB) and Sars, which a­na­ly­ses and fo­re­cas­ts e­co­no­mic de­ve­lop­ments.

Sars has, for the last two y­e­ars, bro­ken the tril­li­on rand mark. The pre­li­mi­na­ry out­co­me for the 2016/17 fi­nan­ci­al y­e­ar was R1.144 tril­li­on. “T­his ex­tra­or­di­na­ry re­ve­nue tar­get has been set in a strai­ned e­co­no­mic en­vi­ron­ment and will see Sars put in ex­tra ef­fort to con­ti­nue to bol­ster the na­ti­o­nal pur­se,” said Moy­a­ne.

Last y­e­ar’s tax se­a­son saw Sars re­cei­ve 6.31 mil­li­on in­co­me tax re­turns. Tax se­a­son is the sin­gle big­ge­st an­nu­al enga­ge­ment be­t­ween or­di­na­ry ci­ti­zens and Sars.

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