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In 2019 the 17.1% of all South African taxpayers were located in the Western Cape; the province contributed 16.9% of the country's total taxable income thereby contributing to just under R 269.58 billion to the fiscus. [14] Below is a breakdown of the Western Cape governments 2021/22 budget.
The economy of South Africa is a mixed economy, emerging market, and upper-middle-income economy, one of only eight such countries in Africa. [26][27][28] The economy is the most industrialised, technologically advanced, and diversified in Africa. [29] Following 1996, at the end of over twelve years of international sanctions, South Africa's ...
The national debt of South Africa is the total quantity of money borrowed by the Government of South Africa at any time through the issue of securities by the South African Treasury and other government agencies. South African national government budget breakdown for 2019/20. Budget short falls such as the area on the income line outlined with ...
sars.gov.za. The South African Revenue Service (SARS) is the revenue service of the South African government. It administers the country's tax system and customs service, and enforces compliance with related legislation. [2] It is governed by the SARS Act 34 of 1997, which established it as "an organ of state within the public administration ...
e. The economy of Africa consists of the trade, industry, agriculture, and human resources of the continent. As of 2019, approximately 1.3 billion people [11] were living in 53 countries in Africa. Africa is a resource-rich continent. [12][13] Recent growth has been due to growth in sales, commodities, services, and manufacturing. [14]
In the 2018/19 fiscal year SARS collected R 1 287.7 billion (equivalent to US$ 86.4 billion) [5] in tax revenue, a figure R71.2 billion (or 5.8%) more than that from the previous fiscal year. In 2018/19 financial year, South Africa had a tax-to-GDP ratio of 26.2% that was only slightly more than the 25.9% in 2017/18.
According to the 2019 revision of the United Nations Secretariat's World Population Prospects, South Africa's total population was 55,386,000 in 2015, compared to only 13,628,000 in 1950. In 2015, 29.3% of the people were children under the age of 15, 65.7% were between 15 and 64 years of age, and 5.0% were 65 or older. [ 22 ]
The most present age groups among both male and female migrants range from 25 to 34 and 35–44. [5] There were approximately 370 thousand refugees in South Africa in 2019, the majority of which originate from neighboring Sub-Saharan African countries. [4] Migrants residing in South Africa pay over $1 billion (USD) in remittances, accounting ...