Sars Says It Targets R1.265-Trillion Revenue Collection For 2017

Posted on July 5th, 2017
Biz News

Today's Top Entrepreneurship and Business Stories (5 July)

The South African Revenue Services (Sars) said on Tuesday, that some media have incorrectly inflated its revenue collection target for 2017.

This comes after reports that Sars aimed to collect over R1.6 trillion this tax season, though warning that the technical recession could have an impact.

Sars Commissioner Tom Moyane, together with Finance Minister Malusi Gigaba, officially launched the 2017 tax season at a Sars branch in Orlando East in Soweto on Monday morning.

Sars has noted media reports that give an incorrect revenue target for the 2017/18 financial year following the launch of tax season by Finance Minister, Malusi Gigaba and Commissioner Tom Moyane in Soweto yesterday,” the revenue service said in a statement.

Sars wishes to inform the media that the new revenue target for the 2017/18 financial year is R1.265-trillion.”

Sars said this figure was determined by the Revenue Analysis Working Committee (RAWC) comprising of National Treasury, the South African Reserve Bank and Sars, which analyses and forecasts economic developments.

SARS has, for the last two years, broken the trillion rand mark when the preliminary outcome for the 2016/17 financial year was R1.144 trillion.

“This extra-ordinary revenue target has been set in a strained economic environment and will see Sars put in extra effort to continue to bolster the national purse,” Sars said. (via African News Agency)

Popeyes Louisiana Kitchen Franchise Comes To South Africa

South African franchisee, Siyaghopa Trading Group, will be opening its first American brand, Popeyes Louisiana Kitchen quick service restaurant (QSR) in Sandton City, Johannesburg on 13 July 2017.

“We are bringing the best of the American South to meet Africa’s South, and we have no doubt that the culinary similarities – including the melting pot of flavours and festive traditions – will be well received by South African guests,” said Jaye Sinclair, CEO of Siyaghopa Trading Group.

“We look forward to a successful launch to establish Popeyes in the local market. Going forward, we plan to expand the brand nationally, in a variety of locations, venues and formats, to ensure the majority of South Africa has access to Popeyes in the near future.” (via Bizcommunity)

More Than 250 Women Nominated For Inspiring Fifty South Africa

Inspiring Fifty South Africa announced that 252 female candidates were nominated for its initiative which showcases inspiring female role models in the technology industry.

“The calibre of women is amazing and the project has reached so many different fields,” according to project manager, Chantal Louw. The nominees showcase a broad spectrum of skills;

  • 29 are academics (including school teachers)
  • 76 hold C-Level positions
  • 87 are founders of technology or innovation organisations
  • 3 are in government/politicians
  • 2 are analysts
  • 37 are key influencers
  • 18 hold other roles in the relevant sectors.

Inspiring Fifty was initiated by Janneke Niessen and Joelle Frijters from the Netherlands and has since been realized in the Netherlands, Europe, France and the Nordics.

Janneke expressed “The response to the call for nominations has been overwhelming when considering the numbers from previous programs. Europe’s first Inspiring Fifty yielded a selection of just over 500 women, so we are more than pleased with the South African pool.” The initiative aims to prove the philosophy that “if she can see it, she can be it” therefore, “We are excited about all these women who have been given the opportunity to create awareness of their roles in the technology and innovation sectors and encourage more women to join the force”, says Janneke.

The nominees stem from many regions throughout the country:

  • 124 from Cape Town
  • 113 from Johannesburg
  • 1 from the Eastern Cape
  • 9 from Kwa-Zulu Natal
  • 5 South Africans working internationally.

Horbach believes that “these women are inspiring role models for the future; Inspiring Fifty South Africa allows us to create a platform for them in technology, showing our girls that they can do the same”. South Africa’s most Inspiring Fifty women in the technology and innovation sectors will be announced on 9 August 2017.