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 in the organisation’s history.

Commissioner Edward Kieswetter announced the preliminary revenue outcome on Wednesday, describing the achievement as a historical milestone. The collection represents R155 billion more than the previous financial year, reflecting year-on-year growth of 8.4%.

“This is a historic milestone of crossing [the] R2 trillion threshold for the first time in our history,” Kieswetter said during his presentation. “This is R155 billion more than what we collected a year ago, a remarkable year-on-year growth of 8.4% under these economic conditions where nominal growth, for now, is projected to have grown at 4%.”

The figures translate to a tax-to-GDP ratio of 25.9% and a tax buoyancy ratio of 1.73%. Collections at SARS have grown at a compound annual growth rate of 5.8% since the start of Kieswetter’s tenure seven years ago.

Individual taxes contributed the largest portion of the collection at R794 billion, followed by Value Added Tax at R500 billion. Company taxes stood at R350 billion, customs reached R352 billion and excise amounted to R182 billion.

SARS processed R458 billion in refunds during the period, representing 5.9% of GDP. Kieswetter noted that refund payments serve as a cash injection into the economy, particularly for small businesses and families experiencing financial difficulties.

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The revenue collector took 22 years to reach the R1 trillion threshold and 10 years to double the collection to R2 trillion, despite slow economic growth, load shedding and the COVID-19 pandemic.

Kieswetter will end his tenure as commissioner at the end of April. President Cyril Ramaphosa is expected to announce his replacement.

“I want to thank the President, the Minister [of Finance], and all South Africans for affording me the rare privilege to make my humble contribution to the wellbeing of our country and its people,” Kieswetter said.

The commissioner attributed the record collection to the more than 14 500 employees at SARS and compliant taxpayers.

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