SARS collected R 571.8 billion in 2007/8

The South African Revenue Service (SARS) collected R571.8 billion during the 2007/8 fiscal year, Finance Minister Trevor Manuel announced today.

"I am feeling like a cat who's had the cream," Manuel said via satellite link from Ethiopia where he is attending a meeting of the United Nations Economic Commission for Africa.

"It's a very, very significant achievement." Manuel expressed "heartfelt appreciation to the taxpaying public of South Africa" and Revenue Service staff for going "the extra mile".

He said personal income tax accounted for 29.6% of the amount, company income tax for 25%, value added tax 26.2%, customs 4.7%and the fuel levy 4.1%.

"So it's very balanced." When it came to company income tax, Manuel said that for the first time the manufacturing sector was the single largest contributor at 72%. - Sapa