Kaya 959 Reporter
At a press conference on Friday, South African Revenue Services (Sars) Commissioner Edward Kieswetter reported that revenue collections grew by 25.1 per cent for the fiscal year ending March 31, 2022. (April 1).
The total net revenue collected is R1.564 trillion, which is still subject to a final audit (2021: R1.25 trillion).
The SA Revenue Service (Sars) has vowed to further strengthen tax administration after preventing nearly R210 billion revenue leakage in the 2021/22 financial year.
According to Kieswetter, compliance might be improved, and the spread of crime and corruption remains a worry.
He said that he believed that faster progress on structural reforms will contribute to a more permanent economic rebound and improved revenue collection.
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He claimed that Sars still has a long way to go and that it makes too many mistakes. However, the progress that has already been made should be recognized, as should the efforts of the dedicated personnel.
President Cyril Ramaphosa has praised the South African Revenue Service (Sars) for its work, saying it has taken the wind out of the sails of tax evaders and corrupt officials.
As we forge ahead with efforts to strengthen the capacity of the state and rebuild institutions that were systematically weakened by state capture, we have much to learn from what SARS has achieved in a relatively short space of time.https://t.co/KpgJMDRFP2 pic.twitter.com/ipnyA2jKri
— Cyril Ramaphosa 🇿🇦 (@CyrilRamaphosa) April 4, 2022
In his weekly newsletter, Ramaphosa also mentioned that Sars had handed out the most reimbursements since its inception 25 years ago.
As a result of Sars’ turnaround, personal income tax, corporate income tax, and pay as you earn compliance has improved (PAYE).
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