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SABC News

4 days ago

Informative

Finance Minister avoids major tax hikes amid improved revenue collection

Podcast Briefing 2:45

Source Video

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Key Strategic Points

  1. 1 Minister signals no major tax hikes despite ongoing fiscal pressures
  2. 2 Improved revenue collection achieved through better law enforcement rather than legislative changes
  3. 3 SARS performed better than expected, delivering more revenue than anticipated
  4. 4 Government providing inflationary relief to taxpayers while bringing down national debt
  5. 5 SARS is performing strongly but faces challenge of bringing informal sector into tax system

Notable Quotes

“They said you don't need to change the law. You need to improve operational implementation which means the law needs to be enforced.”

— Keith Engel, CEO South African Institute of Taxation

“So through better enforcement, we picked up more money than we thought and therefore we didn't need a tax increase.”

— Keith Engel, CEO South African Institute of Taxation

“There are a number of people who are wholly outside the system and that's where the real revenue is going to be but that money is hard.”

— Keith Engel, CEO South African Institute of Taxation

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