SARS Commissioner Edward Kieswetter yesterday announced that tax revenues are expected to fall by between 15 and 20 percent this year, which is about 285 billion rand. He says this was due to both the sluggish economy and the coronavirus lockdown. He was addressing parliament's joint committee during a virtual briefing on the Revenue Service's strategic plan and annual performance. He says the significant reduction in economic activity and the long term loss of economic capacity as some of the businesses will never be able to reopen are huge concerns.

Guest: Prof Keith Engel – CEO of the South African Institute of Tax Practitioners