Government is expecting stronger than anticipated tax revenue collection, according to Treasury’s updated monthly government revenue and expenditure data.
Gross government tax revenue amounted to R377-billion for the period between April and June this year, up 56.2-percent compared to the same period last year.
The unexpected gains are due to strong mining corporate tax receipts amid elevated commodity prices. Corporate tax receipts from the financial sector have also been strong.
The tax boost is expected to help government pay for the COVID-19 and looting support. Despite the windfall revenue, there are still concerns, that lie beyond the current fiscal year.
In other news – DJ Tira in hot soup
DJ Tira clearly forgot that Uncle Cyril said no grooving. DJ Tira has found himself in some hot coronavirus-infected water after posting a thank-you post that showed him hosting a lit groove.
After posting a thank-you post to his fellow groovers, Tira quickly realised that it might not have been the smartest move and deleted it. Learn more
Source: eNCA
