Sars say tax revenue loss in April more than R280bn
Sars suffered a revenue loss of about R285bn in April, the first month of the lockdown, a decline that peaked at between 15% and 20%, commissioner Edward Kieswetter said on Tuesday.to parliament’s two finance committees
PAYE was down in April by 5.2% compared to the same month in 2019, with more than 65,000 employers that made payments last year making none this year, to a tax value of R3.8bn. More than 87,000 employers who made payments last year made payments that were lower to a tax value of R6.1bn. There was a decline of 19.7% in import taxes, with import VAT down 25% at a tax value of R1.6bn; and customs duty down by 11.8% with a tax value of R100m.
On corporate taxes, there was a 55% decline in April compared to last year. VAT refunds were 12.5% lower than the estimate primarily due to the number of credit returns submitted by taxpayers.
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