South Africa is facing another major tax shortfall

South Africa is facing another major tax shortfall.

Momentum Investments expects that the Revenue Services will collect around fifty billion Rands less tax than projected in last year’s budget.

The financial services provider says Sars is facing shortfalls in personal income tax, corporate income tax and VAT.

Fin24 reports that Finance Minister Toto Mboweni is expected to announce changes in projected tax revenues when he presents the medium-term budget policy statement later this month.