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Treasury projects a R212.2 billion revenue shortfall

South Africa – The National Treasury announced on Wednesday that the gross tax revenue for 2020/21 is expected to be R213.2 billion lower than projections in the 2020 Budget. [Read more…]

Regulations for tax free savings


The final notice and regulations that allow for the introduction of Tax Free Savings and Investment Accounts (TFSAs) have been approved by Finance Minister Nhlanhla Nene. [Read more…]

SARS collects R814bn in taxes

South African Revenue Service

Pretoria – In what Finance Minister Pravin Gordhan today described as a “remarkable achievement”, the South African Revenue Service (SARS) exceeded its target when it collected more than R814 billion in taxes for the 2012/13 fiscal year. [Read more…]

Tax revenue grows

South African Revenue Service

South African Revenue Service

Cape Town – Tax revenue grew by R68.5 billion in the last financial year – to total R742.6 billion – R3.9 billion more than forecast by the Minister of Finance Pravin Gordhan when he presented his 2012 Budget in February, the South African Revenue Service (Sars) said on Monday. [Read more…]

Taxation amendments aim to assist economy

Taxation Amendments

Taxation Amendments

Pretoria – Adjustments to the country’s taxation bills currently before Parliament aim to help grow the South African economy, and will alleviate the burden on ordinary working citizens, says Finance Minister Pravin Gordhan. [Read more…]