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South Africa Issues 2015 Tax Statistics Bulletin

by Lorys Charalambous,, Cyprus

12 November 2015

South Africa's National Treasury and the South African Revenue Service (SARS) have released the 2015 Tax Statistics Bulletin, which provides an overview of tax revenue collection and tax return information for the 2010/11 to 2014/15 fiscal years, and the 2011 to 2014 tax years, respectively.

The objective of the publication is to provide factual data for policymakers, researchers, and economic analysts. The Davis Tax Committee, in its evaluation of South Africa's tax system, has made extensive use of the Tax Statistics Bulletins published previously.

In the 2014 tax year, there were 16.8m registered individual taxpayers. 4.9m individuals that were assessed paid personal income tax (PIT), while further taxpayers were not required to submit returns but had employees tax deducted. PIT was the largest source of tax revenue, at 35.9 percent of the total, and reaching ZAR353.9bn (USD24.8bn).

In addition, in the 2013 tax year, nearly 2.7m companies were registered for the different tax types that apply to businesses. Some 625,850 companies were assessed by SARS. About 26 percent of those companies had positive taxable income; 45 percent had taxable income equal to zero; and the remaining 29 percent reported an assessed loss.

Of the total number of companies assessed by SARS for the 2013 tax year, almost 114,000 were small business corporations and paid tax at the applicable graduated income tax rate instead of the fixed corporate income tax (CIT) rate of 28 percent.

Corporate income tax (CIT), accounting for 18.9 percent of revenues, was the third largest contributor to total government revenue for 2014/15, totaling ZAR186.6bn.

There were 679,000 entities registered for value-added tax (VAT), of which 62 percent (420,900) were active. VAT collections grew by 9.9 percent for 2014/15 compared with the previous fiscal year. At 26.5 percent of total tax revenue, VAT was the second-largest contributor, totaling ZAR261.3bn.

TAGS: individuals | South Africa | tax | small business | business | value added tax (VAT) | employees | corporation tax | revenue statistics | individual income tax | Africa | Tax

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