Sars Delivers Above Target Revenue Performance Amid Tough Economic And Global Conditions

The South African Revenue Service (Sars) said the collected amount was R24.7bn higher than forecast in the 2025 budget.

The agency said in a statement that increased collections reflected its focus on compliance initiatives, improved efficiency and the contribution of the mining sector.

"These results have been achieved despite the challenges of a sluggish economy, geopolitical tensions, global supply-chain disruptions, and the proliferation of the illicit economy," the statement added.

The mining sector's contribution was about 5 billion of the additional 24.7 billion collected, Sars Commissioner Edward Kieswetter told a press conference.

For the 2026/27 fiscal year beginning on Wednesday, 1 April, Sars forecast collections of about R2.13tn, a 5.8% increase.

Sars said South Africa's trade with Israel and Iran was minimal but that shipping disruptions in the Strait of Hormuz could have a big impact on imports, especially of petroleum products.

More than 70% of refined petroleum imports in 2025 came from the Middle East, a presentation showed.

Among the top countries sending refined petroleum to South Africa were Oman (26% of imports), Saudi Arabia (16%) and the United Arab Emirates (15%).

Deputy Commissioner Johnstone Makhubu said imports from Oman were not necessarily at risk as the country was at the exit of the Strait of Hormuz.

More than half of South Africa's crude oil imports last year came from Nigeria and Angola.

($1 = 16.7873 rand)