Govt expecting stronger tax revenue collection: Treasury

File: Treasury.

File: Treasury.

Getty Images

JOHANNESBURG - Government is expecting stronger than anticipated tax revenue collection, according to Treasury's updated monthly government revenue and expenditure data.

Gross government tax revenue amounted to R377-billion for the period between April and June this year, up 56.2-percent compared to the same period last year.

The unexpected gains are due to strong mining corporate tax receipts amid elevated commodity prices.

READ: SA will not be borrowing more money: Treasury DG

Corporate tax receipts from the financial sector have also been strong.

The tax boost is expected to help government pay for the COVID-19 and looting support.

Despite the windfall revenue, there are still concerns, that lie beyond the current fiscal year.

Source
eNCA

Paid Content