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SARS Tax Statistics for 2023

25 Jan 2024
Author: Neil Helps

SARS Tax Statistics for 2023

National treasury and the South African Revenue Service released the Tax statistics for 2023 fiscal year. The mandate of SARS is to collect all tax revenue and ensuring optimal compliance with legislation. In 2022/23 SARS collected R2.07 trillion in gross tax revenue (up by R183 billion or 9.7% more than the prior year).

Here are some other stats on the collection and tax return information for the 2023 tax year:

  • SARS Refunded R381 billion (R60billion or 18.7% more than the previous year).
  • SARS netted R1.68 trillion in tax revenue (up by R123 billion or 7.8% more than the previous year).
  • Compliance revenue yielded R231.8 billion (up R16billion or 7.5% from the previous year).
  • Trade facilitated by SARS totalled R3.9 trillion (up R0.6 billion or 18% from the previous year.

The increases can be attributed to a broad recovery of the tax base and growth in tax revenues supported by higher commodity prices.

An overview of tax revenue published in the annual edition of tax statistics shows some really interesting stats on revenue collection and tax from SARS' activities:

Personal Income Tax Stats for 2022/23

  • 25 944 562 Individuals registered
  • 643 370 Employers
  • 7 068 925 tax returns to be expected to be submitted
  • 5 989 787 tax returns assessed
  • R2.1 trillion taxable income
  • R447.6 billion assessed
  • 84.7% assessed
  • 20% average tax rate
  • Collections = R602.2 billion

Company Income Tax Stats for 2022/23

  • 3 926 252 Companies registered
  • 1 206 913 companies expected to submit returns
  • 1 057 040 Companies were assessed
  • R284.65 billion in tax assessed
  • 87.6% were assessed
  • 27.4 average tax rate
  • Company income tax collected R347.7 billion
  • Company income tax formed 5.2% of GDP

VAT Tax Stats for 2022/23

  • 953 665 registered vendors
  • 477 782 active vendors
  • R486.4 billion in payments
  • R319 billion in refunds
  • Net VAT collection R422.4 billion

Import VAT and Customs Duties Tax Stats for 2022/23

  • 347 754 Importers
  • R2.7 trillion in customs value
  • R252.5 billion in Import VAT
  • R76 billion in customs duties
  • Effective tax rate on import VAT was 9.2% and customs duties 2.8%
  • Customs duties collected R73.9 billion

432 large companies (taxable income of > than R200m) were responsible for 67.1% of company income tax receipts.

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