SA collects R1.25trn in taxes in 2020/21 – Sars

South Africa collected R1.25 trillion ($85 billion) in tax revenue in the financial year ended March 2021, around 12% less than the government’s original target of R1.425 trillion, the revenue service said on Thursday.

The South African Revenue Service (SARS) said improved economic activity, higher collections company tax, especially mining firms, and greater tax compliance had helped to reduced the shortfall.

The initial 2020/21 target of R1.425 trillion was set by the National Treasury before the coronavirus pandemic struck in March last year. Treasury revised the estimate down to R1.112 trillion in October, but then upped it to R1.212 trillion in the February 2021 budget.