April 30, 2020 / 2:26 PM / 24 days ago

South Africa's tax revenue down $711 million, to worsen once COVID-19 relief measures commence

CAPE TOWN (Reuters) - South Africa’s tax commissioner said on Thursday year-to-date revenue collection was already down 13 billion rand ($711 million), and was likely get “significantly worse” once coronavirus tax relief measures kick in.

“We do anticipate a significant decline in tax revenues purely driven by the state of the economy, as well as the tax relief measures that government has announced,” said South African Revenue Service (SARS) head Edward Kieswetter during a virtual parliamentary briefing.

Reporting by Wendell Roelf, Writing by Mfuneko Toyana; Editing by Alison Williams

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