A street money changer counts South African Rands in Harare, Zimbabwe, May 5, 2016. REUTERS/Philimon Bulawayo
South Africa Tax Revenues Falls R15 Billion Short of Government Target
JOHANNESBURG – South African tax revenues fell a whopping R15 billion short of the government’s target in the 2018/19 fiscal year, with revenue estimated at R1.287 trillion ($91 billion), the revenue service said on Monday. South Africa has seen revenue collections fall consistently since 2015 due to weak economic growth and administrative weakness, the latter […]
A street money changer counts South African Rands in Harare, Zimbabwe, May 5, 2016. REUTERS/Philimon Bulawayo
JOHANNESBURG – South African tax revenues fell a whopping R15 billion short of the government’s target in the 2018/19 fiscal year, with revenue estimated at R1.287 trillion ($91 billion), the revenue service said on Monday.
South Africa has seen revenue collections fall consistently since 2015 due to weak economic growth and administrative weakness, the latter leading President Cyril Ramaphosa to fire Tom Moyane as revenue service boss in November.
(Reporting by Mfuneko Toyana, Editing by William Maclean)