South Africa
Revenue surprise may help pay for #Vaccines─── 18:00 Fri, 05 Feb 2021
South African revenue collections that are expected to overshoot budget estimates could take the pressure off the National Treasury to raise taxes to pay for the acquisition and rollout of coronavirus vaccines.
Total tax revenue for the first nine months of the fiscal year is R875.7 billion, according to National Treasury data.
While that’s 10.6% lower than the same period in 2019-20, it compares with a 17.9% shortfall projected for the full year in October’s medium-term budget policy statement, Bloomberg reports.
If the trend in tax collections continue for the last three months of the fiscal year, the extra revenue could be as much as R106.5 billion, Johann Els, the chief economist at Old Mutual Investment Group, said in a note.
Moneyweb
