There are only run-of-the-mill tax deadlines in April, but some interesting information emerged from the recently-released 2018 edition of SARS’ Tax Statistics –
- For the first time since the Global Financial Crisis the increase in tax revenue collected lagged behind GDP growth. This reflects that (a) the days of tax collections rising at a fast clip are over and (b) tax morality is declining (something SARS is concerned about and it’s one of the factors in the setting-up of the Nugent Inquiry into tax affairs).
- Only 24% of companies paid tax, underlining the drop off in corporate tax profitability.
- Over 40% of all individual taxpayers are from Gauteng.
Disclaimer: The information provided herein should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your professional adviser for specific and detailed advice.