- Revenue overview
1.1.1 Overall revenue performance in 2014/15
Customs duties fell 7.9% to R40.7 billion in 2014/15 (Table 9) as a result of a severe decline in vehicle imports. These duties were R0.8 billion higher than the revised estimate of R39.9 billion. Another major factor that reduced income from customs duties was the re-allocation in 2014/15 of imported fuel duties of R2.7 billion. Imported fuel duties are now included in the fuel levy tax category instead of Customs duty. Figures for previous years have not been adjusted to accommodate this re-allocation.
Comment: In the Annual Report under “Sars performance highlights at a glance – Revenue collected” it states “Customs Revenue R178 billion – R2.2 billion above target”. You should question against which target, for the February 2014 target was R202 billion, which means R24 billion below target.
Comment: Also, where are the ad valorem customs duties (Schedule No.1 Part 2B of the Customs and Excise Act, 1964), the Environmental levies (“Incandescent light bulb levy” only one covered”, and the RAF?)
Comment: Consider the ‘Customs duties’ collection and the “SACU payments”. Spot something interesting? Also consider “Specific excise duties”.