Ramaphosa faced criticism after photos emerged of him attending a cattle auction at his Phala Phala farm. 🕵️♀️PhalaPhalaFarm
The Sars statistics for 2022 show who pay the most tax: individuals who pay personal income tax and VAT and corporates. Personal income tax contributes 35.5%, VAT 25.0% and corporate income tax 20.7%, comprising 81.2% of total tax revenue collections.
“After the 2008/09 global financial crisis, it took tax revenue collections several years to recover to pre-crisis levels as a proportion of income and consumption. The tax-to-GDP ratio moderated from 23.8% in 2019/20 to 22.3% in 2020/21, followed by an increase to 24.9% in 2022.Sars says by 31 March 2021, the personal income tax register had grown by 4.1% on an annual basis to 23.9 million individuals. For the 2018 tax year, the number of individuals expected to submit income tax returns was 7.1 million, but this count decreased to 6.8 million for 2020 and then to 6.4 million for 2021, due to the increase in the threshold for submission of returns.
Personal income tax, geographic, demographic and other analysis of the assessments of the taxpayers who had been assessed as at the end of August 2022 for the 2021 tax year showed these interesting results:726 663 assessed taxpayers lived in the Johannesburg Metro and were taxed on an average taxable income of R446 7392 859 926 of assessed taxpayers were maleAssessed taxpayers had a combined taxable income of R1.8 trillion and tax liability of R388.1 billion.
Although individuals comprised 14.8% of active VAT vendors, they only contributed 2.3% of domestic VAT payments and received just 1.2% of VAT refunds.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Phala Phala dollars were not declared with Sars, DA findsPhala Phala dollars were not declared with Sars, DA finds: A PAIA application by the Democratic Alliance to the South African Revenue Services has found there are no records of a declaration of the money President Cyril Ramaphosa received which was later…
Read more »
Phala Phala: Sars confirms that Ramaphosa's stolen dollars were not declaredConfirmed! Presidents Cyril Ramaphosa's $580 000 💸stolen at his Phala Phala 🐃 game farm in 2020 was not declared Sars 😯 phalaphalafarmgate TheCitizenNews Catch up on the story
Read more »
Phala Phala dollars were not declared with Sars, DA findsA Paia application by the DA to the SA Revenue Service has found there are no records of a declaration of the money President Cyril Ramaphosa received which was later stolen at his Phala Phala farm.
Read more »
Phala Phala dollars were not declared with Sars, DA findsA Paia application by the DA to the SA Revenue Service has found there are no records of a declaration of the money President Cyril Ramaphosa received which was later stolen at his Phala Phala farm.
Read more »
No record found of declaring Phala Phala dollars with Sars, DA saysThe dollars, which were reportedly hidden inside a couch on the farm, were not declared to Sars upon entering SA, DA leader John Steenhuisen says
Read more »
Sars finds no record of Phala Phala buyer’s $600k.sarstax confirmed it found no record of a cash declaration by Sudanese businessman Hazim Mustafa, who reportedly said he paid $580 000 in December 2019 for cattle at President CyrilRamaphosa Phala Phala farm. Moneyweb PhalaPhalaFarmGate
Read more »