Tax take stays strong but risks to fiscus intensify

The mining and manufacturing sectors have for the past decade been held hostage by structural constraints

The SA Revenue Service and the National Treasury released the country’s tax statistics last week, and while fiscal year 2021/2022 saw an annual increase of R314bn, slowing economic growth and the high rate of joblessness will hit company bottom lines and personal income tax collections.

This comes as the National Treasury faces more pressure from unions to increase public-sector wages by higher than the budgeted amount, a move sure to blow the fiscus’s expenditure trajectory...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

BDliveSA /  🏆 12. in ZA

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

MICHAEL AVERY: Why the threat of a tax revolt cannot be dismissedTalk of a failed state in SA is increasing across the board
Read more »

Diesel tax refund leaves food retailers out in the coldThere are financial and administrative reasons why Sars hasn’t extended the diesel levy refund beyond food manufacturers. But that offers little comfort for South Africa’s food retail sector.
Read more »

MIKE TEKE AND PETER VENN: Godongwana’s R9bn green energy tax boost could unlock billions moreThe 125% tax incentive for installing renewable energy projects could ease load-shedding and increase energy security — and all this at a cheaper cost.
Read more »

MICHAEL AVERY: Why the threat of a tax revolt cannot be dismissedTalk of a failed state in SA is increasing across the board
Read more »

This is who really pays tax in South AfricaA breakdown of who pays tax in South Africa.
Read more »

Creating a tax-friendly retirement[ADVISOR VIEW] A three-step plan to optimise a tax-friendly retirement environment: Elke Brink - PSGWealth. Moneyweb Tax
Read more »