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SA misses tax revenue forecast in Q1 – Gigaba

Minister says assessing the implications of this for the fiscal framework.

South Africa’s revenue service collected R13.1 billion ($999 million) less tax than forecast in the first quarter of the financial year, Finance Minister Malusi Gigaba told lawmakers on Wednesday.

“We are currently assessing the implications of this for the fiscal framework,” Gigaba said. The first quarter of the financial year ran until the end of June. ($1 = R13.1099)

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Well at least his gestures mean he doesn’t give a hoot and does not care. The Gupta’s will ask him to simply print more money so that Tommy the Booi can carry their VAT refunds in person back to Dubious……
None of us on this forum are surprised as we are living in the real world where business’s are tanking at the rate of knots.
You only have to take a drive down Rietfontein road in Boksburg where at least 10 mega car dealerships have closed down leaving those huge properties to rot. Really sad.

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