Johannesburg — South Africa collected a net 1.855 trillion rand ($101.02 billion) of tax in the fiscal year that ended on March 31, more than 6% higher than the previous year, preliminary figures showed on Tuesday.
The South African Revenue Service (SARS) said collections were robust from the finance, community, wholesale and construction sectors.
There were also healthy gains from personal income tax, helped partly by withdrawals under the “two pot” pension reform, SARS said in a statement.
The reform implemented last year allowed fund members to make partial withdrawals from their pension funds before retirement to help those members in financial distress.
($1 = 18.3636 rand)
*Sfundo Parakozov; Editing: Alexander Winning, Aidan Lewis – Reuters
