SARS misses revenue targets

SARS

File: The contribution of corporate tax and Value Added Tax shrank as businesses and consumers continued to struggle in the country’s tight economy.

eNCA

JOHANNESBURG - SARS has missed its revenue collection target set in February last year by R66-billion.

The revenue service announced today that it collected R1.356-trillion rand in revenue for the 2019-2020 financial year.

READ: SARS makes special arrangements for lockdown

Personal income tax was the main source of revenue.

It made up less than 40 percent of the total figure.

The contribution of corporate tax and Value Added Tax shrank as businesses and consumers continued to struggle in the country’s tight economy.

Source
eNCA