NATIONAL TREASURY AND THE SOUTH AFRICAN REVENUE SERVICE RELEASE THE 10TH ANNUAL EDITION OF TAX STATISTICS
PRETORIA, TUESDAY 12 DECEMBER 2017 – The National Treasury and the South African Revenue Service are pleased to announce the release of the 10th annual edition of the Tax Statistics today, on Tuesday 12 December 2017.
The 2017 edition provides an overview of tax revenue collections and tax return information for the 2013 to 2016 tax years, as well as the 2012/13 to 2016/17 fiscal years.
Accompanying the publication are detailed tables on revenue collection and data pertaining to all the major tax types for the past 10 years. This provides data on the key trends of the past decade, and underlines the important role the tax system has played in contributing to South Africa’s fiscal health and socio-economic development.
Revenue from personal income tax (PIT), as a percentage of total tax revenue, increased from 29.6% in 2007/08 to 37.2% in 2016/17 with a compound annual growth rate (CAGR) of 10.8%, and a proportion of 8.4% of GDP over this period.
This robust performance allowed Government to offer large scale tax relief to all South Africans. This is despite the fact that the minimum tax thresholds for taxpayers below the age of 65 has increased from R40 000 in the 2007 tax year, to R73 650 in the 2016 tax year.