SARS overshoots its mark!

The Union Building in Tshwane

One story that has gone fairly unnoticed in the past couple of weeks was the announcement by the SA Revenue Service (SARS) that it had exceeded its revenue collections target for the 2010/11 financial year. SARS collected R2 Billion more revenue than the targeted amount, but even more amazing is that total collections during this period are 12.6% percent higher than the amount SARS collected in the previous period of 2009/10.

The fact that the news of the high collections rate went unnoticed is perhaps testament to the reputation SARS has built up, that of being one of the most, if not the most, effective state agencies. Is the high collections a function of a growing tax base as a result of a growing economy, or simply a matter of SARS locating those who have been dodging tax payments? 

While I'm sure that occupants of the Union Building must be rejoicing, they must spare a thought for the US Revenue Servive (IRS)