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Sars collects R1.4tr in taxes – up 5.3% on a year before, despite the recession

1 April 2020 6:57 PM
Tags:
SARS
The Money Show
Bruce Whitfield
Tax
South African Revenue Service
Tax collection
Edward Kieswetter
Despite the achievement, the country still lost R100 billion in uncollected taxes, says Commissioner Edward Kieswetter.

The South African Revenue Service (Sars) collected R1.4 trillion in tax revenue during the 2019/2020 tax year, up 5.3% on the year before.

South African Revenue Service (Sars) Commissioner Edward Kieswetter. Picture: @sarstax/Twitter

Also, read:


Commissioner Edward Kieswetter released the agency’s preliminary collection results on Wednesday.

Kieswetter bemoaned the country’s loss of more than R100 billion in uncollected taxes due to non-compliance, aggressive tax planning and VAT fraud.

This year Sars will deploy a high-tech new system utilising artificial intelligence running on supercomputers to make dodging taxes harder and more costly to pull off.

We have enormous islands of data… that we can impose artificial intelligence on to help us enforce compliance… There are more than R100 billion that should be collected that’s floating out there… it’s criminal!

Edward Kieswetter, Commissioner - South African Revenue Service

The Money Show’s Bruce Whitfield interviewed Kieswetter.

We don’t want to declare early victories… a really credible performance… We lost about R60 billion as a result of the declining economy…

Edward Kieswetter, Commissioner - South African Revenue Service

The good news is there is still much more to harvest in terms of compliance…

Edward Kieswetter, Commissioner - South African Revenue Service

For more detail, listen to the interview in the audio below.


This article first appeared on CapeTalk : Sars collects R1.4tr in taxes – up 5.3% on a year before, despite the recession


1 April 2020 6:57 PM
Tags:
SARS
The Money Show
Bruce Whitfield
Tax
South African Revenue Service
Tax collection
Edward Kieswetter

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