{
  "id": 16167426,
  "title": "SARS pays out R239 billion in tax refunds after collecting R1.2 trillion in revenue",
  "url": "https://urgent.news/2026/10/23/sars-pays-out-r239-billion-in-tax-refunds-after-collecting-r1-2",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-23T08:00:00.000Z",
  "source": {
    "name": "IOL",
    "slug": "iol",
    "url": "https://iol.co.za/business/2026-10-23-sars-pays-out-r239-billion-in-tax-refunds-after-collecting-r12-trillion-in-revenue/"
  },
  "original_language": "en",
  "account": "In the first half of the 2026/27 fiscal year, South Africa's South African Revenue Service (SARS) disbursed R239.1 billion in tax refunds while generating R992.2 billion in net revenue. Collectively, SARS amassed R1.231 trillion in revenue before refunds by September 30, 2026, which marginally exceeded its February 2026 Budget projection. Net revenue surpassed expectations by R15.5 billion, or 1.6%, compared to the previous year, and also outpaced the prior period by R67.4 billion, or 7.3%. Finance Minister Enoch Godongwana expanded the annual revenue projection to R2.144 trillion during his Medium-Term Budget Policy Statement, despite Treasury reducing South Africa's economic growth projection for 2026 from 1.6% to 1.2%. SARS Commissioner Johnstone Makhubu applauded the revised estimate but cautioned that robust economic growth, investment, job creation, and broad-based compliance were vital for sustained revenue collection. Godongwana attributed the revenue boost to heightened corporate income tax, dividends tax, and value-added tax (VAT) collections, but cautioned that rising commodity prices may not sustain support in the coming years. The revenue agency also noted stronger collections from corporate income tax, domestic VAT, and pay-as-you-earn (PAYE), coupled with lower-than-projected VAT refunds. Compliance actions yielded an estimated R137.7 billion, including R76.3 billion in cash collections and R61.3 billion in revenue leakage prevention. Makhubu emphasized that every recovered rand through compliance interventions safeguards honest taxpayers and fortifies the fiscal framework.",
  "summary": "SARS collected R992.2 billion in net revenue in the first six months of 2026/27, 7.3% higher than a year earlier and R15.5 billion above the February Budget estimate",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}