COVID-19 to force tax arrears up P1.4bn

Friday, June 12, 2020

Less to work with: Matsheka faces a trying first year in office PIC: KENNEDY RAMOKONE

covid19

Finance and Economic Development minister, Thapelo Matsheka in April revised the expected 2020-21 budget revenues from P62.4bn to P48.8bn, with much of that decline coming from tax income and mineral revenues.

The BURS had initially targeted P44.4 billion in collections this year, with P15.4 billion from customs and excise revenue and P8.6 billion from Value Added Tax (VAT).

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