Revenue collection shortfall of 285 billion Rands this year-SARS

SAfm — The South African Revenue Service has warned that revenue collection will continue its downward trajectory because of the COVID-19 pandemic. SARS commissioner Edward Kieswetter has warned that revenue performance will be lower than the February budget announcements, by between 15 and 20 percent. This means there will be a revenue collection shortfall of 285 billion Rands this year. The Commissioner also anticipates the number of companies that will apply for business rescue will continue to increase.