Sars still recovering from 2008 recession
The South African Revenue Service on Monday released 2012 tax figures in Parliament, Cape Town.
CAPE TOWN - The South African Revenue Service (Sars) is still feeling the lingering effects of the 2008 recession, but it has made some gains.
This was revealed at the unveiling of 2012 tax figures in Parliament, Cape Town.
According to the service, the country's tax-to-GDP ratio has remained below pre-crisis levels since the global financial crisis in 2008.
Sars said the figures are an indicator of economic activity in the country, as well as how many people are contributing to the fiscus.
Spokesperson Adrian Lackay said revenue collection slowed down after 2008.
"The tax-to-GDP ratio in 2008 bordered just below 28 percent of the GDP. In other words, we have not recovered yet to what we were before the economic crisis."