Sars seeks to improve revenue collection, restore credibility

In what has been described as a new dawn for South Africa, the Finance Minister, Deputy Minister, and Acting Tax Boss, Mark Kingen, recently revealed the South African Revenue Service's (SARS) preliminary revenue results for the fiscal year 2017-18. The announcement took place at the SARS headquarters in Pretoria, marking a significant moment for the country's tax collection efforts. SARS reported that it had collected a total amount of 1.216 trillion or 1,216.6 billion Rand in the past financial year. While this represented a 72.4 billion Rand increase from the previous year, the agency fell short of its tax collection target by 700 million Rand. Mark Kingen, the new Acting Commissioner of SARS, expressed his commitment to addressing these shortfalls and improving the organization's performance going forward. Kingen highlighted the importance of identifying opportunities for growth and focusing on enhancing compliance in areas such as payroll taxes and VAT submissions. The new leadership at SARS is determined to turn the organization's reputation around and regain the trust of South African citizens. The Finance Minister acknowledged the challenges that SARS has faced in recent years, including issues of corruption and governance lapses. These challenges have led to a decline in public trust and credibility in the revenue service. As part of efforts to address these issues, the government has launched a commission of inquiry into tax administration and governance at SARS. The Minister emphasized the importance of this inquiry in promoting transparency and efficiency within the revenue service. Despite the challenges, the Finance Minister expressed optimism about the future of SARS and its ability to enhance revenue collection in the years to come. He commended the agency for its achievements in the face of adversity and expressed hope that the recent progress would help restore trust in the government and the revenue authority. While celebrating the improvement in tax collection by 6.3%, the Minister also acknowledged that SARS still has a long way to go in rebuilding its reputation and efficiency. The commitment of the new leadership to address these challenges and foster a culture of transparency and compliance bodes well for the future of SARS and its role in supporting South Africa's economic development. As the agency continues to work towards its targets and rebuild trust with the public, the coming years will be crucial in determining the success of these efforts.