TAX BLOG

Sars collects R813.8 billion in revenue


The SA Revenue Service (SARS) collected R813.8 billion in revenue last year.

According to the 2013 Tax Statistics publication, tabled by SARS and the National Treasury on Monday 21st of October 2013, this was R71.2 billion more than during the 2011/12 fiscal year.

Personal income tax, including PAYE, totalled R276.7 billion (31.4% of revenue collected). A total of 15.4 million individuals were registered, of whom 5 881 019 were liable to submit returns.

Company income tax collected during 2012/13 amounted to R160.9 billion (26.7% of revenue). This involved 2.2 million registered companies, of which 742 448 were liable to submit returns.

Value-Added Tax (VAT) netted R215 billion (24.7% of revenue) and import VAT and other customs duties collected totalled R39 billion.

According to the document, the tax-to-GDP ratio increased marginally from 25% in 2011/12, to 25.3% last year (2012/13).

"This is close to the long-term average, but well below the peaks of more than 27% reached before the (2008/9) financial crisis."

The individual tax register grew strongly.
"The number of individuals registered for income tax as at 31st of March 2013 increased by 1.7 million (12.5%), from 13.7 million in the previous year to 15.4 million."

On the same date, there were nearly 2.2 million registered companies, of which 800 000 were liable to submit returns and nearly 700 000 registered VAT vendors.

 

Source:Fin24


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