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SA’s tax revenue down R13bn

And set to worsen once Covid-19 relief measures commence.
Image: Shutterstock

South Africa’s tax commissioner said on Thursday year-to-date revenue collection was already down R13 billion ($711 million), and was likely get “significantly worse” once coronavirus tax relief measures kick in.

“We do anticipate a significant decline in tax revenues purely driven by the state of the economy, as well as the tax relief measures that government has announced,” said South African Revenue Service (Sars) head Edward Kieswetter during a virtual parliamentary briefing.

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So I am sure the man has made a plan like any business that forecasts a turnover that is way down???

You try and bring your cost down. Like paying people off that has nothing to do.

Thanks for clearing that up Mr. Kieswetter.

SARS must please ensure that someone must check & watch that the printing presses…. print the correct colors of the banknotes… & very important…. PLENTY OF the BIG notes…. in Pretoria or somewhere up there!!!

The government is behaving just like “the last of the big spenders” blowing money all over town with no idea as to where it is going to get it’s next R 1 from and then crying poverty and will look for a handout. SARS on the other hand will find that all their normal revenue streams have dried up and will have to revert to overt tax robbery

Covid-19 is the perfect excuse for everything so why not the perfect excuse for paying zero taxes.

I would image that the tax take from self employed people and small businesses will trend to zero

Suggest SARS applies to UIf for relief !!
Lets open the 2020 tax season early : Im due a refund !!

The missing piece : in light of the severe impact on our inflows, cabinet and the comrades in the public service unions held an emergency meeting and unilaterally agreed that government will implement an austerity program that includes :
1. An across the board 15% salary haircut
2. A freeze on hires toward a 15% headcount reduction.

And will increase sin taxes by 15% with immediate effect. Ooops. There are no more sin taxes.

Whahahaaaa. What a bunch?

Talk about shooting yourself in the foot.

Here’s rather a daunting thought. The “testers” have on average tested 5821 person per day since 23rd March (207530 tests conducted) and if we say half the population (58 million people (allegedly as nobody knows the real numbers) then it will take a further +/- 5400 days of testing to test the population at risk. Converting 5400 day to years – testing would have to continue for 14.79 years – and that’s ignoring any secondary infections. I can’t imagine sitting at home in self isolation why I’ll be 87 if I come out of isolation.
I wonder what happened to all those medical personnel that they mobalised and the Cubans who have just arrived have been doing – seems government doesn’t have testing as a high priority at all

Well start opening up the economy.More economic activities more income less welfare. As a Pakistani government spokesperson said, with 45% of economic activities in the informal sector they do not have the luxury of a full lock down. More harm full outcome with a lock down, starving population, social unrest than covid 19 fatalities.

Blame the A N C and this government for the current situation. I don’t know if they will have enough food parcels and T shirts to win an election?? How free has the A N C made South Africa??? Looks like them helping the poor is getting easier by making more people poor. HMMMMMMMM

Didn’t the presidency knew it would happen, when they announced lock-down? Wtf?! (sorry, too late)

Better go and get than R500bn “package” from the unknown source….

By now it is clear. There is not one politician that can think about the future, let alone how to manage the economy.
This was the worst possible decision (to lock down and close), but that was ok for the greedy politicians that have food and money. They even manage to con South Africans into more debt(Borrowed billions from world bank) and corruption (shares the borrowed money between them and even paid for Cuban doctors to come and help with a “Y2K” virus)

End of comments.

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