25 January 2022 - 17:36Revenue service Sars reported that 40.1% of assessed taxpayers were registered in Gauteng, with 687,261 of assessed taxpayers living in the Johannesburg metro. File photo.Tax revenue collections in the 2020/21 fiscal year were severely hit by the Covid-19 pandemic and subsequent lockdown restrictions.
This is according to a statement by the National Treasury and the SA Revenue Service , which published the 14th annual edition of the Tax Statistics on Tuesday. The statistics focus on tax return revenue collections from the 2016/17 to 2020/21 fiscal years. According to the report, total tax revenue collections for 2020/21 declined by 7.8% to just less than R1.25-trillion from about R1.35-trillionThe compound annual growth rate, measuring collective growth for the past five years, is at 2.2% and much lower than the compound annual growth rate of 9% in 2011/12 to 2016/17.
Sars reported that 40.1% of assessed taxpayers were registered in Gauteng, with 687,261 of assessed taxpayers living in the Johannesburg metro. These taxpayers were taxed on an average annual income of R481,209. In terms of corporate income tax, of the 812,306 companies assessed as at September 2021 for tax year 2019, 24% had positive taxable income, while 48.3% had taxable income equal to zero and the remaining 27.7% reported an assessed loss.
Well, will that be the reason sarstax is taking more than two months to pay what is due to me?
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
CLAIRE BISSEKER: Tax hikes on the cards if government cave in on Covid-19 grantThe only reliable way to finance extended relief of distress is through taxation, writes Claire Bisseker Bitcoin is good since i met with William_Usr I've made alot of profit from his company platform and he has honestly made life more easy for me, invest now with his platform and make $10k daily Follow him The quickest way to destroy the tax base. Cash business and rampant tax evasion become the norm. Emigration of the skilled and high earners - the stupidity and desperation of the ANC can’t be more evident. Instead of stimulation they would rather strangle the economy VoetsekANC Eh remasepeng tlhe ban yerrr...
Source: BDliveSA - 🏆 12. / 63 Read more »
CLAIRE BISSEKER: Tax hikes on the cards if government cave in on Covid-19 grantThe only reliable way to finance extended relief of distress is through taxation, writes Claire Bisseker As a mother of two kids I have battled alot with my financial state to the point of begging from friends just to survive,until I started Bitcoin trading with the help of _AMBREYMARCUS1 I made a successful withdrawal of R 200,000 with the help of _AMBREYMARCUS1 .
Source: BDliveSA - 🏆 12. / 63 Read more »
Reit IPOs — the new tax game?Property is bucking the delistings trend, but that may have more to do with tax benefits than a sector rebound. As a mother of two kids I have battled alot with my financial state to the point of begging from friends just to survive,until I started Bitcoin trading with the help of AMBREYMARCUS1 I made a successful withdrawal of R 200,000 with the help of AMBREYMARCUS1 .
Source: FinancialMail - 🏆 20. / 63 Read more »
Reit IPOs — the new tax game?Property is bucking the delistings trend, but that may have more to do with tax benefits than a sector rebound.
Source: FinancialMail - 🏆 20. / 63 Read more »
Reit IPOs — the new tax game?Property is bucking the delistings trend, but that may have more to do with tax benefits than a sector rebound. As a mother of two kids I have battled alot with my financial state to the point of begging from friends just to survive,until I started Bitcoin trading with the help of _AMBREYMARCUS1 I made a successful withdrawal of R 200,000 with the help of _AMBREYMARCUS1 .
Source: FinancialMail - 🏆 20. / 63 Read more »
Source: Moneyweb - 🏆 5. / 77 Read more »