South African Revenue Service points to strong economy
The South African Revenue Service (Sars) has reported a greater-than-expected income thanks to a strong economic performance and increased corporate profits.
Newly-released statistics for the government agency show that it collected R493 billion (£34.4 billion) for the year up to March 30th 2007 - more than R37 billion above the original estimate for the year.
A high level of economic growth and investment into the country have been highlighted by Sars as primary reasons for the strong performance, in addition to alterations to the country's tax structure.
A statement from Sars revealed: "The revenue performance lays the foundation for government to realise its ambition to create the fiscal space needed to improve the lives of all South Africans."
"Over the past few years government's fiscal strength has enabled us to improve expenditure on social delivery and investment in infrastructure," it added.
Last week, the South African government announced that the country had a attracted "phenomenal" growth in tourist numbers over 2006, with 8.4 million visitors to the country.
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