South Africa’s Tax Take Outperforms on Finance Sector Boost (1)

South Africa’s tax collection exceeded estimates, boosted by a strong performance in personal income and corporate levies, especially from the finance sector, preliminary data shows.

The South African Revenue Service collected 1.855 trillion rand ($101 billion) in the fiscal year through March, Commissioner Edward Kieswetter told reporters in Pretoria, the capital, on Tuesday. That was almost 9 billion rand more than the National Treasury’s revised estimate of 1.846 trillion rand in its March 12 budget.

Personal income tax grew by 81.8 billion rand, or almost 13%, compared to a year earlier. That was partly due to above-inflation growth in pay-as-you-earn ...