Sars collects R1.741 trillion in tax, R10 billion more than estimated

Sars has collected a record amount of tax in the 2023/2024 tax year, but remains concerned about fraud and abuse of the tax system.By the end of March 2024 Sars collected R1.741 trillion in tax for the 2023/2024 fiscal year, which was R10 billion more than the revised estimate and R54 billion more than last year’s R 1.687 trillion, despite the tough prevailing economic conditions.

Net Personal Income Tax, which accounts for 37.3% of total revenue, grew by R49.5 billion in 2023/2024, as employment improved year-on-year and average wage settlement rates improved from an annual average of 6.0% in 2022 to 6.3% in 2023. PAYE collections from incentives and bonus payments, predominantly from the finance sector, also boosted revenue.

The Compliance Programme uses data, artificial intelligence and machine learning algorithms to successfully counter criminality and wilful non-compliance. These systems also ensure that no legitimate refunds are denied, while preventing impermissible and fraudulent refunds.R91.3 billion debt collected from 2.6 million cases, including R420 million from 895 000 outstanding returns.Where provisional taxpayers underpaid their taxes, Sars collected R19.

Sars undertook detailed work through the management of risk, consisting of revenue leakage prevention, fraud, impermissible refunds and debt equalization that contributed R101 billion from 1.8 million cases.

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