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SARS welcomes R17.1b increase in 2026/ 27 revenue target
South Africa has raised its gross tax revenue target for the 2026/27 financial year by 17.1 billion rand, bringing the new forecast to 2.144 trillion rand. Finance Minister Enoch Godongwana announced the revision in Parliament on Wednesday, October 21, citing stronger-than-expected collections from corporate income tax, dividends tax and value-added tax. The revenue service collected 992.2 billion rand in net revenue in the six months to September, including 239.1 billion rand paid out in refunds. Commissioner Johnstone Makhubu said compliance interventions had already secured a preliminary 137.7 billion rand, money that protects honest taxpayers and supports public services. The revised outlook excludes fuel levy relief designed to ease cost-of-living pressure on households. SARS says meeting the higher target will require disciplined execution and continued focus on collecting every rand legally due to the state.
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SARS welcomes R17.1b increase in 2026/ 27 revenue target
South Africa has raised its gross tax revenue target for the 2026/27 financial year by 17.1 billion rand, bringing the new forecast to 2.144 trillion rand. Finance Minister Enoch Godongwana announced the revision in Parliament on Wednesday, October 21, citing stronger-than-expected collections from corporate income tax, dividends tax and value-added tax. The revenue service collected 992.2 billion rand in net revenue in the six months to September, including 239.1 billion rand paid out in refunds. Commissioner Johnstone Makhubu said compliance interventions had already secured a preliminary 137.7 billion rand, money that protects honest taxpayers and supports public services. The revised outlook excludes fuel levy relief designed to ease cost-of-living pressure on households. SARS says meeting the higher target will require disciplined execution and continued focus on collecting every rand legally due to the state.