South Africa’s gross tax revenue forecast for 2026/27 has been revised upwards by R17.1 billion, supported by stronger-than-expected collections from corporate income tax, dividends tax and Value-Added Tax (VAT), Finance Minister Enoch Godongwana announced on Wednesday.
The revised forecast reflects an improved revenue outlook compared with the February estimate.
“A large portion of this improvement is due to higher commodity prices, and these gains are expected to dissipate over the medium term. Overall, gross tax revenue is projected to increase from R2.14 trillion this year to R2.53 trillion in 2029/30,” the Minister told Parliament.
Delivering the Medium-Term Budget Policy Statement (MTBPS), Godongwana said the South African Revenue Service (SARS) continues to strengthen revenue administration and improve compliance.
He added that SARS is playing a key role in government’s efforts to combat the illicit economy, particularly the illegal alcohol and tobacco trades.
“Through customs and excise modernisation, which includes enhanced cargo scanning, track-and-trace capabilities, and stronger frontline enforcement, SARS is disrupting the networks that enable illicit trade.
“We will provide a more detailed update on the National Illicit Economy Disruption Programme in the Budget next year,” the Minister said. –SAnews.gov.za
Source: Original report at SAnews.gov.za.
