Despite leaving the general fuel levy unchanged, the government still expects to collect tens of billions from this tax in the current financial year.
The government expects to make around R89 billion from the general fuel levy in the current financial year, adding to the over R730 billion it has generated in the past decade.
Not all of this goes directly to the government, with the revenue generated by some levies going directly to specific entities. However, the National Treasury expects this to decline in the current financial year because it left the levy unchanged and reduced fuel demand due to South Africa’s stagnant economy.
For the current financial year, the National Treasury expects to raise R15 billion more in taxes than in 2023/24.
General Fuel Levy Headline International Monetary Fund (IMF) South African Reserve Bank (SARB) Investing
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