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South Africa to miss tax revenue targets as growth slows
October 25, 2017 / 12:28 PM / 23 days ago

South Africa to miss tax revenue targets as growth slows

CAPE TOWN, Oct 25 (Reuters) - South Africa’s tax revenue for this financial year will miss February’s budget estimate by 50.8 billion rand ($3.69 billion), the largest under-collection since a 2009 recession, Treasury said in its medium-term budget policy statement on Wednesday.

Lower tax collection is expected to persist over the medium term, falling short by 89.4 billion in 2019/20, denting government plans to rein in its budget deficit and leaving little room for tax increases, Treasury said. ($1 = 13.7499 rand)

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