South Africa's SARS collected 1.741 trillion rand ($92.6bn) in taxes, a 3.2% increase from the previous year.
South Africa's tax collection exceeded estimates, with SARS collecting 1.741 trillion rand ($92.6bn) in the fiscal year through March 31, a 3.2% increase from the 2023 fiscal year. The higher-than-anticipated income could improve the budget deficit as a percentage of GDP. Despite challenging economic conditions, SARS collected 10 billion rand more than the revised estimate, and compliance revenue increased by 26.7%.
April 02, 2024
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