Photo Markus-spiske/Unsplash
Photo Markus-spiske/Unsplash

SA’s tax revenue expected to grow significantly

Africa Tax Outlook (ATO) report revealed
The ATO makes projections about future tax revenue based on tax buoyancy and tax stability.
Staff Reporter
South Africa is one of several African countries expecting a significant growth in tax revenue. This is one of several trends emerging from the latest Africa Tax Outlook (ATO) report.

The ATO makes projections about future tax revenue based on tax buoyancy and tax stability. To calculate these projections, the ATO looks at the tax revenue collected 10 years ago and uses that information to estimate the revenue that may be collected in 2023.

In that regard countries with high positive tax buoyancy (higher than 1) which will see their tax revenue increase more than the tax collected the current year include Burkina Faso (4.08); Cote d’Ivoire (5.48); Madagascar (3.11); Nigeria (4.85) and South Africa (4.82) on the top of the list.

The 2022 African Tax Outlook report - the pre-eminent resource on tax policy and administration in Africa covering 37 African tax administrations is being launched today (July 26, 2023).

The report highlights one way for African governments to improve revenue collection is by harnessing the potential of ICT and digital technologies to enhance tax administration efficiency.

“In tax administration, that should play a critical role in enabling the vision of the modern tax administration such as cutting costs, minimising tax fraud, and empowering employees to deliver high value services to taxpayers,” said Frankie Mbuyamba, ATAF Manager Regionalisation and Senior Specialist: African Tax Outlook.

Digitalisation

He added that most ATO countries had started to embrace digitalisation - with countries such as South Africa, Mauritius and Kenya leading the way.

“However, this can mainly be seen on few tax administration processes such as registration, filing and payment of taxes. There is need to leverage the use of ICT and digital technologies more than is currently the case,” he added.

“The ATO database continues to grow and deepen trust in its dataset and publications,” said the ATAF executive secretary Logan Wort.

“Despite the challenges of gathering information, available data shows that ATO countries are determined to improve their tax administration efficiency, narrow the tax gap, broaden the tax base, and improve compliance levels through use of technology-based solutions,” Wort added.

The 2022 ATO is being launched during ATAF’s annual database training at the Southern Sun Hotel, Sandton.

The launch will include a presentation on the tax policy recommendations developed following the research. These recommendations include items such as VAT implementation across the continent, the harmonisation of corporate income tax, diversifying sources of Personal Income Tax (PIT), excise duty rates, taxing the informal sector, harnessing the potential of non-tax revenues, introducing environmental taxes and growing the tax base. There are additional recommendations to support tax and customs administration strengthening.

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Namibian Sun 2024-05-15

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Premier League: Tottenham Hotspur 0 vs 2 Manchester City | Aston Villa 3 vs 3 Liverpool | Manchester United 0 vs 1 Arsenal LaLiga: Girona 0 vs 1 Villarreal | Real Madrid 5 vs 0 Deportivo Alaves | Osasuna 1 vs 1 Mallorca | Barcelona 2 vs 0 Real Sociedad | Real Betis 3 vs 2 Almería | Valencia 0 vs 0 Rayo Vallecano | Atletico Madrid 1 vs 0 Celta Vigo | Cadiz 1 vs 0 Getafe SerieA: Fiorentina 2 vs 1 Monza | Lecce 0 vs 2 Udinese | Atalanta 2 vs 1 AS Roma | Juventus 1 vs 1 Salernitana | Genoa 2 vs 1 Sassuolo | Hellas Verona 1 vs 2 Torino | SS Lazio 2 vs 0 Empoli European Championships Qualifying: West Bromwich Albion 0 vs 0 Southampton | Norwich City 0 vs 0 Leeds United English Championship: West Bromwich Albion 0 vs 0 Southampton | Norwich City 0 vs 0 Leeds United Katima Mulilo: 12° | 30° Rundu: 11° | 29° Eenhana: 14° | 31° Oshakati: 14° | 30° Ruacana: 14° | 30° Tsumeb: 14° | 28° Otjiwarongo: 11° | 26° Omaruru: 14° | 29° Windhoek: 12° | 25° Gobabis: 14° | 25° Henties Bay: 19° | 34° Wind speed: 27km/h, Wind direction: SE, Low tide: 03:18, High tide: 09:17, Low Tide: 15:19, High tide: 22:12 Swakopmund: 19° | 26° Wind speed: 20km/h, Wind direction: SW, Low tide: 03:16, High tide: 09:15, Low Tide: 15:17, High tide: 22:10 Walvis Bay: 23° | 35° Wind speed: 25km/h, Wind direction: SW, Low tide: 03:16, High tide: 09:14, Low Tide: 15:17, High tide: 22:09 Rehoboth: 13° | 26° Mariental: 16° | 28° Keetmanshoop: 19° | 28° Aranos: 15° | 28° Lüderitz: 20° | 36° Ariamsvlei: 19° | 31° Oranjemund: 16° | 29° Luanda: 24° | 28° Gaborone: 15° | 28° Lubumbashi: 11° | 27° Mbabane: 13° | 25° Maseru: 10° | 25° Antananarivo: 14° | 22° Lilongwe: 14° | 27° Maputo: 17° | 28° Windhoek: 12° | 25° Cape Town: 15° | 22° Durban: 17° | 25° Johannesburg: 15° | 24° Dar es Salaam: 23° | 31° Lusaka: 15° | 25° Harare: 12° | 25° Currency: GBP to NAD 23.11 | EUR to NAD 19.86 | CNY to NAD 2.54 | USD to NAD 18.37 | DZD to NAD 0.14 | AOA to NAD 0.02 | BWP to NAD 1.3 | EGP to NAD 0.38 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.72 | ZWL to NAD 0.04 | BRL to NAD 3.58 | RUB to NAD 0.2 | INR to NAD 0.22 | USD to DZD 134.03 | USD to AOA 834.06 | USD to BWP 13.56 | USD to EGP 46.75 | USD to KES 129.98 | USD to NGN 1498 | USD to ZAR 18.37 | USD to ZMW 25.6 | USD to ZWL 321 | Stock Exchange: JSE All Share Index 78632.56 Down -0.07% | Namibian Stock Exchange (NSX) Overall Index 1710.9 Down -2.52% | Casablanca Stock Exchange (CSE) MASI 13501.46 Down -0.29% | Egyptian Exchange (EGX) 30 Index 25339.77 Down -0.16% | Botswana Stock Exchange (BSE) DCI 9151.06 Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 363.35/OZ UP +0.32% | Copper US$ 4.95/lb UP +1.51% | Zinc US$ 3 015.00/T UP 0.79% | Brent Crude Oil US$ 82.20/BBP DOWN -0.0116 | Platinum US$ 1 045.67/OZ UP +0.18% Sport results: Premier League: Tottenham Hotspur 0 vs 2 Manchester City | Aston Villa 3 vs 3 Liverpool | Manchester United 0 vs 1 Arsenal LaLiga: Girona 0 vs 1 Villarreal | Real Madrid 5 vs 0 Deportivo Alaves | Osasuna 1 vs 1 Mallorca | Barcelona 2 vs 0 Real Sociedad | Real Betis 3 vs 2 Almería | Valencia 0 vs 0 Rayo Vallecano | Atletico Madrid 1 vs 0 Celta Vigo | Cadiz 1 vs 0 Getafe SerieA: Fiorentina 2 vs 1 Monza | Lecce 0 vs 2 Udinese | Atalanta 2 vs 1 AS Roma | Juventus 1 vs 1 Salernitana | Genoa 2 vs 1 Sassuolo | Hellas Verona 1 vs 2 Torino | SS Lazio 2 vs 0 Empoli European Championships Qualifying: West Bromwich Albion 0 vs 0 Southampton | Norwich City 0 vs 0 Leeds United English Championship: West Bromwich Albion 0 vs 0 Southampton | Norwich City 0 vs 0 Leeds United Weather: Katima Mulilo: 12° | 30° Rundu: 11° | 29° Eenhana: 14° | 31° Oshakati: 14° | 30° Ruacana: 14° | 30° Tsumeb: 14° | 28° Otjiwarongo: 11° | 26° Omaruru: 14° | 29° Windhoek: 12° | 25° Gobabis: 14° | 25° Henties Bay: 19° | 34° Wind speed: 27km/h, Wind direction: SE, Low tide: 03:18, High tide: 09:17, Low Tide: 15:19, High tide: 22:12 Swakopmund: 19° | 26° Wind speed: 20km/h, Wind direction: SW, Low tide: 03:16, High tide: 09:15, Low Tide: 15:17, High tide: 22:10 Walvis Bay: 23° | 35° Wind speed: 25km/h, Wind direction: SW, Low tide: 03:16, High tide: 09:14, Low Tide: 15:17, High tide: 22:09 Rehoboth: 13° | 26° Mariental: 16° | 28° Keetmanshoop: 19° | 28° Aranos: 15° | 28° Lüderitz: 20° | 36° Ariamsvlei: 19° | 31° Oranjemund: 16° | 29° Luanda: 24° | 28° Gaborone: 15° | 28° Lubumbashi: 11° | 27° Mbabane: 13° | 25° Maseru: 10° | 25° Antananarivo: 14° | 22° Lilongwe: 14° | 27° Maputo: 17° | 28° Windhoek: 12° | 25° Cape Town: 15° | 22° Durban: 17° | 25° Johannesburg: 15° | 24° Dar es Salaam: 23° | 31° Lusaka: 15° | 25° Harare: 12° | 25° Economic Indicators: Currency: GBP to NAD 23.11 | EUR to NAD 19.86 | CNY to NAD 2.54 | USD to NAD 18.37 | DZD to NAD 0.14 | AOA to NAD 0.02 | BWP to NAD 1.3 | EGP to NAD 0.38 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.72 | ZWL to NAD 0.04 | BRL to NAD 3.58 | RUB to NAD 0.2 | INR to NAD 0.22 | USD to DZD 134.03 | USD to AOA 834.06 | USD to BWP 13.56 | USD to EGP 46.75 | USD to KES 129.98 | USD to NGN 1498 | USD to ZAR 18.37 | USD to ZMW 25.6 | USD to ZWL 321 | Stock Exchange: JSE All Share Index 78632.56 Down -0.07% | Namibian Stock Exchange (NSX) Overall Index 1710.9 Down -2.52% | Casablanca Stock Exchange (CSE) MASI 13501.46 Down -0.29% | Egyptian Exchange (EGX) 30 Index 25339.77 Down -0.16% | Botswana Stock Exchange (BSE) DCI 9151.06 Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 363.35/OZ UP +0.32% | Copper US$ 4.95/lb UP +1.51% | Zinc US$ 3 015.00/T UP 0.79% | Brent Crude Oil US$ 82.20/BBP DOWN -0.0116 | Platinum US$ 1 045.67/OZ UP +0.18%