Johannesburg – Taxes on income and profits contributed more than half (56.7%) of the total tax revenue of R1.07tr for the year 2015/16.
These are just some of the facts listed in the ninth edition of the annual Tax Statistics publication. The report is published jointly by National Treasury and the South African Revenue Services (Sars). It takes the tax register as at March 2016.
The report indicated that total tax revenue was up 8.5% from the previous year’s (2014/15) revenue of R83.7bn. It also showed that 80.8% of income revenue was generated from personal income tax (36.4%), corporate income tax (18.1%) and VAT (26.3%). Further, personal income tax grew by 10% or R35.4bn.