Ricochet News

SARS reaches R1-trillion milestone

Feb 26, 2018
SARS reaches R1-trillion milestone

The South African Revenue Service (SARS) on Monday announced that it has crossed the psychological threshold of the one-trillion Rand mark in its revenue collection efforts.

The one-trillion rand mark was reached on Thursday 22 February 2018, making it the third year in a row that SARS reached this milestone.

Announcing this milestone, SARS Commissioner, Mr Tom Moyane, said the achievement was testament to the organisation’s commitment to reaching the increased revenue target of R 1.217-trillion, which was announced by the Minister of Finance in his Budget Speech on Wednesday.

The Commissioner said he was confident that the SARS revenue management structures and the entire staff in all regions of the country would deliver the revenue needed by South Africa.

“We are focused on closing all revenue leakages through non-compliance and our staff will spare no effort in reaching the revenue target by 29 March, even though the economy is not performing to our expectations,” Mr Moyane said.

“We believe that our efforts will provide government with the requisite fiscal space to free up resources for its developmental objectives while allowing it to better manage the levels of debt we are facing,” said the Commissioner.