ZA – SARS Reports Record Revenue Collection for 2024/25 Fiscal Year

The South African Revenue Service (SARS) has announced a record revenue collection for the 2024/25 fiscal year, achieving a gross collection of R2.303 trillion—a 6.9% year-on-year increase despite economic challenges. SARS also disbursed a record R447.7 billion in tax refunds, demonstrating its commitment to efficient revenue administration and economic support.

Key performance indicators include a tax-to-GDP ratio of 24.8% and a tax-buoyancy ratio of 1.20, highlighting strong fiscal health. Personal Income Tax (PIT) collections grew by 12.6%, driven by improved PAYE compliance and early pension withdrawals. Corporate Income Tax (CIT) rose by 2.1%, with strong performance in the Finance sector, while VAT collections expanded by 2.3%, supported by enhanced compliance measures.

SARS prevented R146.7 billion in fraudulent tax refunds and generated R301.5 billion in compliance revenue through strategic interventions, including AI-driven audits and enforcement actions. The agency remains committed to modernizing its systems and fostering voluntary compliance, with a 2025/26 revenue target of R2.006 trillion.

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