Tax

R342.9 Billion in VAT Refunds: Are South African Businesses Waiting Too Long For What They Are Owed?

In the 2023/24 financial year, South Africa’s VAT refunds hit an unprecedented R342.9 billion, reflecting a robust 7.5% increase year-on-year, as reported in SARS' latest annual report.

Tax Debt Relief - How SARS's Tax Collection Shortfall is Creating an Opportunity for Taxpayers

This year, South African taxpayers find themselves in a unique position to manage their tax obligations with greater flexibility.

SARS marginally improves refund payment time frames, but needs to prioritise improving service delivery and building trust with taxpayers

In tough economic conditions SARS increases its compliance focus

The South African Revenue Service (SARS) welcomes the Medium-Term Budget Policy Statement (MTBPS) tabled in Parliament today by the Minister of Finance, Mr Enoch Godongwana. The Minister revised the 2024 February Budget net tax revenue estimate from R1 863.0 billion to R1 840.8 billion.