Faizel Patel, Radio Islam News – 27-11-2017
The South African Revenue Services (SARS) says it has paid out R 18.5 billion in refunds to 2.22 million taxpayers at the close of the tax season.
The refunds, a 26% increase on last year applied to returns filed for the 2016/2017 tax year submitted during the tax season from July 1 to November 24.
SARS says 93.63% of returns were processed within 24 hours – In total, R19.8 billion in refunds has been paid to individuals for this financial year to date, inclusive of prior year returns, directly contributing to household incomes and the domestic economy.
SARS’ Commissioner Tom Moyane thanked taxpayers for submitting their returns.
“SARS wishes to express its appreciation to all those taxpayers, who submitted their tax returns before the deadline. Paying tax is the highest form of patriotism. With this in mind, SARS wishes to assert that the organization remains resolute, focused and single-minded about meeting our revenue collection target for South Africa.”
SARS says it also prevented R2.7 billion in fraudulent claims in the Personal Income Tax environment, saving the fiscus from potential revenue loss.
“This was a R900 million (50%) improvement from last year where R1.8 billion in fraudulent claims was prevented during the same period.”
SARS says it had received 5.67 million returns, including returns filed for prior years.
0 Comments