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SARS revenue collection rises

Tax collection figures reveal a rise in the revenue collected to R813,8 billion.

The average wage slave is still the biggest contributor to the nation’s tax base, accounting for 34% of revenue collected.

SARS has released its tax collection figures for the 2013/2013 fiscal year. They reveal a rise in the revenue collected to R813,8 billion - good news for potential tax relief in the next Budget.

The tax-to-GDP ratio has increased slightly, but is still far below the levels experienced before the global financial crisis hit.

In terms of composition, the average wage slave is still the biggest contributor to the nation's tax base, accounting for 34% of revenue collected.

Company tax revenue stands at just under 20%, and VAT at 26% of the total.

SARS reports its modernisation programme is starting to bear fruit, with almost two thirds of tax payers making use of eFiling.

Payment-in-bank solutions have also increased in popularity, with more than 30% of tax payers using that option. Only 1,8 percent of tax payers still use physical tax offices to sort out their payments.