Sars satisfied with tax collection
Acting Commissioner at the South African Revenue Services (Sars), Mark Kingon, says the key areas where the Revenue service fell short to meeting their estimated target was in domestic Value Added Tax (Vat) and imported vat.
This comes after the Sars, announced that it had collected R1216.6 billion in the financial year 2017/18, just shy of the forecasted estimate of R1217.4 billion announced by the Finance Minister Nhlanhla Nene in the 2018 Budget Speech.
Kingon says although they didn’t meet their target, he is happy with the results as it is close to their target.
“I would have loved to have made the target and our staff was striving to meet the target and go beyond, so I am happy that we collected what we could collect but I am sad that we didn’t meet the target.”