{"id":31206,"date":"2025-04-01T13:33:05","date_gmt":"2025-04-01T13:33:05","guid":{"rendered":"https:\/\/www.premium-partners.net\/?p=31206"},"modified":"2025-04-01T13:58:35","modified_gmt":"2025-04-01T13:58:35","slug":"sa-revenue-service-collects-record-revenue-ahead-of-budget-vote","status":"publish","type":"post","link":"https:\/\/www.premium-partners.net\/fr\/builder\/sa-revenue-service-collects-record-revenue-ahead-of-budget-vote\/","title":{"rendered":"SA Revenue Service collects record revenue ahead of Budget vote"},"content":{"rendered":"

This post<\/a> was originally published on this site<\/a><\/p>

<\/p>\n

The South African Revenue Service (Sars) collected a record gross revenue of R2.303 trillion for the 2024\/25 fiscal year, exceeding expectations by nearly R8.8 billion, a day before parliament votes on the National Budget. <\/p>\n

Sars Commissioner Edward Kieswetter hailed the outcome as a testament to the agency\u2019s efficiency, noting that it collected R114bn more than the previous year\u2019s R1.741trl.<\/p>\n

\u201cI am pleased that the R447.7 billion returned into the hands of taxpayers is good for the economy,\u201d Kieswetter said, referencing the highest-ever refund payout, up 8.2% from R413.9 billion in 2023\/24. However, he said he remained “deeply concerned about the ever-present threat of refund fraud and abuse of the system”. This as Sars thwarted R146.7bn in impermissible refunds.<\/p>\n

The net revenue of R1.855 trillion reflects a tax-to-GDP ratio of 24.8%, with a tax buoyancy ratio of 1.20, signalling revenue growth outpacing the economy\u2019s nominal gross domestic product (GDP) rise of 5.4%.<\/p>\n

This performance comes as Finance Minister Enoch Godongwana prepares to table the 2025 Budget, which includes an additional R7.5bn allocation to Sars over the Medium-Term Expenditure Framework to enhance debt collection and combat illicit trade.<\/p>\n

Key tax categories drove the gains. Net Personal Income Tax (PIT) grew by 12.6% to R81.8bn, boosted by above-inflation wage increases in the finance and community sectors and R12.9bn from Two-Pot pension withdrawals – far exceeding the projected R5bn. Net Company Income Tax (CIT) rose 2.1% to R6.5bn, led by a 3.3% uptick in provisional tax collections, despite a mining sector downturn. Net Value-Added Tax (VAT) increased by 2.3% to R10.5 billion, with refunds reaching R365.5bn, up 6.6% year-on-year.<\/p>\n

The Budget vote on April 2 follows a year of uneven economic recovery, with sectors like finance and wholesale thriving, while imports and exports lagged. The National Treasury had adjusted nominal GDP growth forecasts downward from 5.7% to 5.4% by Budget 2025, reflecting cautious optimism.<\/p>\n

Godongwana\u2019s Budget is expected to prioritise fiscal stability, with Sars tasked to collect R2.006trl in 2025\/26.<\/p>\n

“This conveys confidence by the Minister on SARS\u2019s ability to meet this challenge. We will spare no efforts in rising to this challenge,” said Kieswetter.<\/span><\/p>\n

Compliance efforts yielded R301.5bn, a 15.8% increase, aided by artificial intelligence and data analytics to curb fraud.<\/p>\n

\u201cSars believes that taxpayers are honest and want to be helped to meet their obligation,\u201d Sars said, noting a rise in voluntary compliance indices across PIT, CIT, and VAT.<\/p>\n

Looking ahead, the tax body said it was collaborating on several projects amongst other, a unique digital identity for individuals and entities and a common portal ensuring data integrity segregation based on mandates of agencies. <\/span><\/p>\n

“\u200b We will also look at a common payment platform with e-invoicing\u200b and this will reduce the volume of cash in the system\u200b as well as a common disbursement platform to replace the disparate payment platforms.  Sars, subject to funding and appropriate support is ready to lead these initiatives since they are critical to our and other government departments success,” it said. <\/span><\/p>\n

BUSINESS REPORT<\/strong><\/p>","protected":false},"excerpt":{"rendered":"

The South African Revenue Service (Sars) collected a record gross revenue of R2.303 trillion for the 2024\/25 fiscal year, exceeding expectations by nearly R8.8 billion, a day before parliament votes on the National Budget.\u00a0Sars Commissioner Edward Kieswetter hailed the outcome as a testament to the agency\u2019s efficiency, noting that it collected R114bn more than the previous year\u2019s R1.741trl.\u201cI am pleased that the R447.7 billion returned into the hands of taxpayers is good for the economy,\u201d Kieswetter said, referencing the highest-ever refund payout, up 8.2% from R413.9 billion in 2023\/24. However, he said he remained “deeply concerned about the ever-present threat of refund fraud and abuse of the system”. This as Sars thwarted R146.7bn in impermissible refunds.The net revenue of R1.855 trillion reflects a tax-to-GDP ratio of 24.8%, with a tax buoyancy ratio of 1.20, signalling revenue growth outpacing the economy\u2019s nominal gross domestic product (GDP) rise of 5.4%.This performance comes as Finance Minister Enoch Godongwana prepares to table the 2025 Budget, which includes an additional R7.5bn allocation to Sars over the Medium-Term Expenditure Framework to enhance debt collection and combat illicit trade.Key tax categories drove the gains. Net Personal Income Tax (PIT) grew by 12.6% to R81.8bn, boosted by above-inflation wage increases in the finance and community sectors and R12.9bn from Two-Pot pension withdrawals – far exceeding the projected R5bn.\u00a0Net Company Income Tax (CIT) rose 2.1% to R6.5bn, led by a 3.3% uptick in provisional tax collections, despite a mining sector downturn. Net Value-Added Tax (VAT) increased by 2.3% to R10.5 billion, with refunds reaching R365.5bn, up 6.6% year-on-year.The Budget vote on April 2 follows a year of uneven economic recovery, with sectors like finance and wholesale thriving, while imports and exports lagged. The National Treasury had adjusted nominal GDP growth forecasts downward from 5.7% to 5.4% by Budget 2025, reflecting cautious optimism.Godongwana\u2019s Budget is expected to prioritise fiscal stability, with Sars tasked to collect R2.006trl in 2025\/26.”This conveys confidence by the Minister on SARS\u2019s ability to meet this challenge. We will spare no efforts in rising to this challenge,” said Kieswetter.Compliance efforts yielded R301.5bn, a 15.8% increase, aided by artificial intelligence and data analytics to curb fraud.\u201cSars believes that taxpayers are honest and want to be helped to meet their obligation,\u201d Sars said, noting a rise in voluntary compliance indices across PIT, CIT, and VAT.Looking ahead, the tax body said it was collaborating on several projects amongst other, a unique digital identity for individuals and entities and a common portal ensuring data integrity segregation based on mandates of agencies. “\u200b We will also look at a common payment platform with e-invoicing\u200b and this will reduce the volume of cash in the system\u200b as well as a common disbursement platform to replace the disparate payment platforms.\u00a0 Sars, subject to funding and appropriate support is ready to lead these initiatives since they are critical to our and other government departments success,” it said.\u00a0BUSINESS REPORT<\/p>","protected":false},"author":1,"featured_media":31208,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-31206","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-builder"],"_links":{"self":[{"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/posts\/31206","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/comments?post=31206"}],"version-history":[{"count":1,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/posts\/31206\/revisions"}],"predecessor-version":[{"id":31207,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/posts\/31206\/revisions\/31207"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/media\/31208"}],"wp:attachment":[{"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/media?parent=31206"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/categories?post=31206"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/tags?post=31206"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}