Sars pays out R2.4bn in tax returns in first 4 days of lockdown
The refunds comprise payments to large businesses of R1.1 billion and payments to the Small, Medium and Micro-sized Enterprises SMMEs to the tune of R1.3 billion.
CAPE TOWN - The South African Revenue Service (Sars) said it has paid out tax refunds amounting to R2.4 billion in the first four days of the nationwide lockdown.
The refunds comprised payments to large businesses of R1.1 billion and payments to the small, medium and micro-sized enterprises (SMMEs) to the tune of R1.3 billion.
South Africa is one of an increasing list of countries globally that's battling the economic and health impact of the COVID-19 pandemic.
Sars said it was fully aware of the devastating effect on the lives of citizens, small businesses and the already struggling economy.
Sars said it was therefore committed to maintaining its essential services to mitigate these unfavourable conditions.
The tax collecting authority said these refunds represented a major cash injection into the economy at a critical period.
But Sars said it could only do so if taxpayers and traders remained compliant by fulfilling their payment obligations during the lockdown through online applications.
For official information about COVID-19 from the Department of Health, please click here.