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SARS falls short on target despite increase in tax collections

SARS

SARS has missed its revenue collection target set in February last year by R66-billion. The revenue service announced today that it collected R1.356-trillion rand in revenue for the 2019-2020 financial year. Personal income tax was the main source of revenue. It made up less than 40 percent of the total figure.

The contribution of corporate tax and Value Added Tax shrank as businesses and consumers continued to struggle in the country’s tight economy. SARS commissioner Edward Kieswetter said it will deploy a high-tech new system utilising artificial intelligence (AI) running on supercomputers to make dodging taxes harder and more costly to pull off — this according to Radio 702.

SARS

“We have enormous islands of data that we can impose artificial intelligence on to help us enforce compliance. There are more than R100 billion that should be collected that’s floating out there, it’s criminal,” said Kieswetter. We lost about R60 billion as a result of the declining economy,” he added.

In other news – Simz Ngema scores a new acting gig

Grace seems to have been located in Simz Ngema‘s life as just a few days ago she revealed a big accomplishment of buying herself a house after such a long time of working hard and here she is again sharing her new acting gig she scored. The actress Simphiwe has announced that she will be joining the cast of SABC 2’s Bone of My Bones.

Simz Ngema

The actress has taken to Instagram to reveal that she has joined the Bone of My Bones cast for their season 2 which premiers on the 9th of April where she will be playing the character Ruth. Read more

Source: eNCA