SARS Commissioner Edward Kieswetter says the withdrawal rate from the two-pot system is higher than expected.
Kieswetter was speaking at Parliament when he reacted to Finance Minister Enoch Godongwanas Medium Term Budget Police Statement.
He says SARS has had 1.6 million applications for the two-pot system just for today.
"The value of the total directives that we have approved amounts to just over R29 billion and the taxes that will be levied against that will be about R7.2 billion. But none of that money is in the September numbers yet. And also we are withholding debt that taxpayers owe to us. We expect a further R750 million of old debt we have collected with the two-pot system. So far it appears that the withdrawal rate is higher than was originally expected.
Reacting to Godongwana saying revenue will be over R20 billion under what was predicted in the February budget, Kieswetter says this due to lesser payroll taxes, reduced fuel levy and import VAT.
