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South Africa’s National Treasury says there are no additional resources available to government departments in the next three years.
Any additional allocations will need to be funded through reductions in other programs, either within the department’s budget or the budget of another department, according to the document submitted by Edgar Sishi, the acting head of the budget office, to the National Office for Economic Development. and work. Tip this week and seen by Bloomberg.
The Treasury said in a supplemental budget presented in June that it planned to raise an additional R40 billion ($ 2.4 billion) in revenue over the next four years.
The document presented this week shows that it will be made up of R5 billion in 2021-22, R10 billion in 2022-23 and in 2023-24 and R15 billion in 2024-25.
The additional tax measures will be announced in February, according to the filing. Improvements in collection by the revenue service will help and research and analysis on estate taxes is underway, he said.
A spokesman for the National Treasury verified the document.
Read: The ‘ray of light’ of South Africa’s Covid-19 corruption: Ramaphosa
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