South Africa Revenue Service commissioner Edward Kieswetter says now is the time — more than ever — for taxpayers to honour their obligations. The taxman estimates the under-recovery of revenue at a quarter of a billion rand. With economic activity severely restricted and the destruction of the tax base due to the lockdown, the coffers are shrinking rapidly.
The government is trying to strike a balance between slowing the COVID-19 infection rate and saving the economy. And so far, the scales appear to be tipping on the side of public health and that has not made the taxman’s job easy. We have had under-recovery in the first month of R9-billion with represents a year on year decline of eight percent,” Kieswetter said.
Less economic activity is one side of the lockdown coin. The other side is a dwindling tax base – which was already in decline before the crisis.
Kieswetter says SARS is continually evaluating the situation But with no end to the economically destructive lockdown in sight, the extent of the blow to revenue collection is simply not yet known.
In other news – Wow! Gospel star Dumi Mkokstad’s Wife sings for him – Watch
From a scale of 1 to 10, how would you rate her singing? Mr. Mkokstad couldn’t hide the joy he felt while his love sang for him, and it’s so sweet! Gospel singer Dumi Mkokstad is showing off his wife’s, Ziphozenkosi‘s singing skills. He took to his social media platforms to show a video of Ziphozenkosi singing and him playing the piano. Read more
Source: eNCA