SARS says crackdown on tax evaders paying off after raking in higher-than-expected revenue
SARS collected over R1.74 trillion in net revenue for the 2023/2024 fiscal year, R10 billion more than the February budget estimate.
FILE: South African Revenue Service (Sars) Commissioner Edward Kieswetter. Picture: @sarstax/Twitter.
JOHANNESBURG - The South African Revenue Service (SARS) said its crackdown on tax evaders is starting to pay off as it rakes in higher-than-expected revenue.
SARS collected over R1.74 trillion in net revenue for the 2023/2024 fiscal year, R10 billion more than the February budget estimate.
The higher revenue was driven by personal income taxes, while corporate income tax contracted in the period that ended in March.
SARS Commissioner Edward Kieswetter said the tax agency would claw back money lost to non-compliance and fraud.
"Our work with and through law enforcement agencies has to step up as the whole of government if we are to tackle this scourge, which is eroding not only economic value but also social cohesion."