SARS reaches collection milestone

File: The South African Revenue Service has for third year in row managed to collect R1-trillion in tax revenues.

JOHANNESBURG - The South African Revenue Service (SARS) on Monday announced that it has crossed the psychological threshold of the R1-trillion mark in its revenue collection efforts, making it the third year in a row that Sars reached this milestone.

SARS Commissioner Tom Moyane said it was testament to the organisation's commitment to reaching the increased revenue target of R1.217-trillion, which was announced by Finance Minister Malusi Gigaba in his budget speech last week.

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Moyane said that he was confident that the SARS revenue management structures and staff in all regions of the country would deliver the revenue needed by South Africa.

"We are focused on closing all revenue leakages through non-compliance and our staff will spare no effort in reaching the revenue target by 29 March, even though the economy is not performing to our expectations," Moyane said.

"We believe that our efforts will provide government with the requisite fiscal space to free up resources for its developmental objectives while allowing it to better manage the levels of debt we are facing."

African News Agency

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