South Africa’s Tax Revenue Forecast Updated

South Africa's gross tax revenue forecast for the 2026/27 financial year has been adjusted upward by R17.1 billion, according to Finance Minister Enoch Godongwana. This revision is attributed to increased collections from corporate income tax, dividends tax, and Value-Added Tax (VAT).

The updated forecast indicates a more favorable revenue outlook compared to the initial estimate provided in February. Godongwana highlighted that the South African Revenue Service (SARS) is enhancing revenue administration and compliance efforts.

The Minister also mentioned that gross tax revenue is expected to rise from R2.14 trillion in the current year to R2.53 trillion by the 2029/30 financial year. Additionally, he announced fuel levy relief as part of the Medium-Term Budget Policy Statement (MTBPS) delivery.