Sars breaks tax revenue record after collecting R1.5 trillion between 2021/22

Sars commissioner Edward Kieswetter announced the preliminary revenue collection outcome for the 2021-2022 financial year in Pretoria.

 FILE: South African Revenue Service (Sars) Commissioner Edward Kieswetter. Picture: @sarstax/Twitter.

JOHANNESBURG - The South African Revenue Service (Sars) has broken a revenue record, collecting over R1.5 trillion between April 2021 and March 2022.

Sars commissioner Edward Kieswetter on Friday announced the preliminary revenue collection outcome for the 2021-2022 financial year in Pretoria.

He said Sars had seen a 25% year-on-year growth, “We strive to balance the trade-off between a service to the taxpayer and risk to the fiscus. The sectors that benefited most from the refunds compared to the prior year are mining, finance, agriculture, manufacturing and the tax refunds paid out in the year under review are the highest ever paid out by Sars in 25 years of its existence. It represents an estimated 5.1% of GDP and allow for this to flow back into the hands of individuals and businesses to stimulate the economy.”