South African Revenue Service (SARS) commissioner Edward Kieswetter said the tax authority collected close to R1.687 trillion in net revenue for the 2022/23 financial year.
While this amounted to R123 billion more than in the previous financial year, the revenue service missed the target announced during February’s budget by a small margin.
SARS announced the preliminary revenue collection results on Monday.
The improvement in revenue collection came despite low economic growth and the crippling impact of load shedding on the economy.
Kieswetter said revenue from all tax types grew, with personal tax showing a growth of more than 8%.
‘The compliance actions administered by SARS focus on ensuring that the South African public receives an efficient and effective and professional service from SARS as it seeks to fulfil their obligation, but also, we manage the risk to the national revenue fund and ensure that the country’s fiscal integrity is underpinned.’