Ina Opperman
Business Journalist
2 minute read
6 Apr 2021
5:30 am

Sars’ income surprises: wealthy declare less than their lifestyles

Ina Opperman

Kieswetter says a higher-than-expected rebound in economic activities after the easing of lockdown has resulted in better-than-expected tax revenue collections.

South African Revenue Service (Sars) Commissioner, Edward Kieswetter. Picture: Jacques Nelles

Although the South African Revenue Service (Sars) announced in its preliminary revenue results outcome yesterday it collected more tax over the past year in spite of the pandemic, Sars commissioner Edward Kieswetter said he cannot declare victory as there is still much to do. The various alcohol bans, as well as the tobacco ban at the beginning of lockdown, saw Sars loose R14 billion in revenue, while finding that South Africans have more than R400 billion in offshore accounts. “The lifestyle of wealthy people says more about their true income than what they declare,” Kieswetter said. Sars collected a gross...