South Africa tax collection beats estimate despite tough climate
South Africa’s tax collection modestly beat estimates, boosted by stronger contributions from companies, personal income receipts and value-added tax, preliminary data show. The South African Revenue Service collected R2.010 trillion on a net basis in the fiscal year through March, Commissioner Edward Kieswetter told reporters in Pretoria, the capital, on Wednesday. The amount collected was 8.4% higher than the previous financial year and slightly better than the National Treasury’s estimate of R2.007-trillion in its budget review last month. Surpassing that forecast will help support Treasury projections that government debt peaked as a share of gross domestic product in the 2025-26 fiscal year.
South Africa’s tax collection modestly beat estimates, boosted by stronger contributions from companies, personal income receipts and value-added tax, preliminary data show. The South African Revenue Service collected R2.010 trillion on a net basis in the fiscal year through March, Commissioner Edward Kieswetter told reporters in Pretoria, the capital, on Wednesday. The amount collected was 8.4% higher than the previous financial year and slightly better than the National Treasury’s estimate of R2.007-trillion in its budget review last month. Surpassing that forecast will help support Treasury projections that government debt peaked as a share of gross domestic product in the 2025-26 fiscal year.
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