Pretoria: The South African Revenue Service (SARS) has collected R2.010 trillion in net revenue for the 2025/26 financial year, surpassing the R2 trillion threshold for the first time since its establishment. This landmark achievement was revealed by SARS Commissioner Edward Kieswetter during a presentation of the preliminary revenue outcome for the financial year.

According to South African Government News Agency, SARS collections have grown at a compound annual growth rate of 5.8% since Kieswetter began his tenure seven years ago. Kieswetter described the achievement as a defining moment, noting that the R2 trillion collection is R155 billion more than the previous year-a year-on-year growth of 8.4% during a period of projected nominal growth of 4%. This results in a tax-to-GDP ratio of 25.9% and a tax buoyancy ratio of 1.73%.

The largest contributors to the revenue were individual taxes at R794 billion, followed by Value Added Tax (VAT) at R500 billion. Company taxes accounted for R350 billion, customs reached R352 billion, and excise stood at R182 billion. Kieswetter highlighted that refunds amounted to R458 billion by the end of the year, representing 5.9% of GDP. He emphasized the importance of refunds as a financial lifeline during challenging economic times.

The journey to the R2 trillion mark took 22 years to reach the R1 trillion milestone and only ten years to double that amount, despite challenges such as slow economic growth and the impacts of load shedding and COVID-19. Kieswetter credited the dedication of SARS employees and the institutional integrity of the organization for this achievement, calling SARS a national asset.

As Kieswetter prepares to conclude his tenure at the end of the month, he reflected on his service, recalling President Cyril Ramaphosa's call to restore the credibility and capability of damaged institutions. He expressed gratitude for the opportunity to serve and contribute to the country's wellbeing, urging taxpayers to maintain compliance and praising SARS employees for their diligent work.

Kieswetter thanked compliant taxpayers for their contribution to building a capable state and strengthening South Africa's fiscal integrity. He concluded by acknowledging that the record achievement was a collective effort of SARS employees and the nation's fiscal citizens.