Sars fails to reach tax collection target
The South African Revenue Services (Sars) has missed its tax collection target, with Finance Minister Nhlanhla Nene raising concerns about tax compliance in the country.
The revenue service collected R1.216 trillion rand in the 2017/2018 financial year, that's R0.7bn or 0.06% lower than the R1.217 trillion target set by National Treasury.
Speaking to Bongani Bingwa, Keith Engel of the South African Institute of Tax Professionals says SARS has been forced to revise its target.
The 1% increase in VAT will cover it, they understood where they are at, they mostly on target based on where they were on the budget.Keith Engel, CEO, The African Institute of Tax Professionals
Engel maintains the reason for tax non-compliance was a growing tendency of companies to withhold VAT and PAYE.
A lot of times the employer gives you your salary and is supposed to take your tax and hand it over to Sars, so when businesses are in trouble instead of handing it over that money to Sars they keep it to themselves and they will do the same with VAT.Keith Engel, CEO, The African Institute of Tax Professionals
Click below for the full interview:
The power utility says the rolling power cuts are likely to continue until 10 pm tonight.Read More
The number of recoveries in South Africa so far is 146,279. The total number of tests conducted to date is 2.232,738.Read More
The couple are in isolation and the minister, who received his results earlier on Tuesday, will continue to work from home.Read More
Reatlile Blessing Tolo has been left wounded after she was viciously attacked by pit bulls.Read More
KwaZulu-Natal secretary Mandla Shabangu says the stigmatisation around the virus may be contributing to the problem.Read More
Spokesperson Wayne Minnaar says four were arrested on Allendale Road just before midnight busy consuming alcohol.Read More
The R153m draw took place on 10 July 2020. Ithuba's Busisiwe Msizi says buying tickets online has become popular.Read More
Forecaster Edward Engelbrecht says Gauteng is not going to experience as intense a weather as the Western Cape.Read More
Mandy Wiener speaks to clinical psychologist Ruth Ancer about some of the anxiety experienced in the face of COVID-19.Read More
Listeners express their frustrations with the service from Eskom on The Clement Manyethela Show.Read More