Gigaba warns SA could miss 1.3% growth target
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Gigaba warns SA could miss 1.3% growth target

Updated: 11:00 13-09-2017

Finance Minister Malusi Gigaba is warning South Africa is in danger of missing its 1.3% growth target this year due to the poor performance of major sectors of the economy that will likely restrain tax revenues.

Government aims to collect just under R1.3 trillion in taxes during the 2017/2018 fiscal year.

But Gigaba says the current level of growth is simply insufficient.

At the same time, South African Revenue Services (Sars) commissioner Tom Moyane says the revenue service has resolved many of the technical glitches in the system and he's apologised for delays in refunds.

“I’m aware that you have been grappling with Sars technical issues. We are truly apologetic for these glitches. However, I believe we have resolved a number of them and we continue to improve on our systems to make the tax administration process easier and more convenient.”

Source: EWN Published: 13:15 11-09-2017

Posted by on September 11, 2017.

Categories: Business

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Updated: 21:39 20-Mar-2018