Tax in SA: who is paying?
27 November 2014
Posted by: Author: BusinessTech
New data from StasSA finds that government received less tax from businesses in 2012/13 than it did four years prior, in 2008/09.
During 2008/09, businesses paid R189 billion in taxes, but this decreased to R152 billion in 2010/11.
There was a moderate recovery to R181 billion in 2012/13 but that was still 5% less than the 2008/09 figure, as it struggles to recover to pre-recession levels.
Following last week’s income tax deadline, StatsSA noted that individual tax payers contributed R277 billion to government coffers in 2012/13 financial year, up 40% from 2008/09.
Last week (18 November), the SA Revenue Service (Sars) said that upward of 3.8 million South Africans had submitted their tax returns.
"Of those, just over two million returns were completed via eFiling and over 1.8 million completed electronically at a Sars branch,” spokeswoman Marika Muller said in a statement.
"If you were successful in completing your ITR12 form last week, know that your inclusion as a member of the individual tax base is an extremely important one. Of the R1 trillion of total income received by government during the 2012/13 financial year, R872 billion was collected as tax,” StatsSA said.
Most of this tax was collected from individuals who contributed just under a third of the total (32% or R277 billion).
Value Added Tax (VAT) came second, at R215 billion (25%), followed by taxes paid by businesses (R181 billion or 21%).
Excise tax contributed 10% (R89 billion), followed by other taxes (13% or R111 billion).
This article first appeared on businesstech.co.za.