National Property Portfolio on Auction

National Property Portfolio on Auction
Loading

Tax revenue remains stagnant

October 22 2012 at 12:43pm
By SAPA

Comment on this story

Sars_taxpayers001

Ziphozonke Lushaba

Tax revenue collection has not recovered much from the 2009 economic slump, SA Revenue Service (Sars) spokesman Adrian Lackay said on Monday.

Lackay and a Sars team released the latest tax statistics in Parliament.

They showed that R742.6 billion rand in revenue was collected in 2011/12, almost R4bn higher than Finance Minister Pravin Gordhan predicted in his February budget speech.

However, the tax-to-GDP ratio had remained stagnant compared to the figures in 2009, when business and profits in the country were constrained by the global economic crisis.

“The tax-to-GDP ratio in 2008 bordered below 28 percent, went down to 24.5 percent the following year, and is now sitting at 24.6 percent,” said Lackay.

This meant companies were still reeling from the after-effects of the constrained economic activity which followed the downturn. - Sapa


sign up
 
 

Comment Guidelines


  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

     

Join us on

 IOL-Social networks IOL-Social networks IOL-Social networks IOL-Social networks
IOL Travel

Make sure you find the best available airfares with our easy-to-use search engine.

Travel_pic_enw
Sudoku