On 01 November 2022, the South African Revenue Service (SARS) announced the release of its Annual Report 2021-2022.
A copy is accessible at www.sars.gov.za/about/annual-reports-strategic-plans/
The report is primarily intended, but not limited to, addressing the information requirements of the Public Finance Management Act 1 of 1999 and National Treasury’s Annual Report guidelines. It includes information on SARS’ performance for the 2021/22 FY, governance, risks, stakeholder, and human resource information, as well as the Annual Financial Statements for SARS’ Own Accounts.
SARS presents its performance information in accordance with Government’s performance monitoring methodology and has therefore aligned this report with its 2020/21 to 2024/25 Strategic Plan, and its 2021/22 Annual Performance Plan. The Annual Financial Statements (Own Accounts) for the year ended 31 March 2022, were prepared in accordance with the effective Standards of Generally Recognised Accounting Practice (GRAP), issued by the Accounting Standards Board (ASB), in accordance with section 91(1) of the PFMA.
As part of SARS’ commitment to align the organisation with the King Report on Corporate Governance, it continues its journey to inculcate the principles of integrated thinking and integrated reporting, to promote a more cohesive approach to reporting, that considers a broad range of reporting dimensions, and communicates all relevant factors that materially affect the ability of SARS to create value over the short, medium, and long term. On the journey towards a fully integrated report, SARS embedded some of the concepts from the International Integrated Reporting Framework (IIRF) into this report.
The Annual Financial Statements in this report were audited by the Auditor-General of South Africa who expressed an opinion. This report is approved by SARS’ Accounting Officer, the Commissioner for SARS.