Taxman loses out

South Africa collected slightly less revenue than forecast in 2008/09 after a weaker economy cut tax revenue, leading to a budget deficit of 1.2percent of gross domestic product, the Treasury said yesterday. It said the country's revenue service took in R625.57billion in tax in the financial year to the end of March, R2.12billion less than the R627.69billion forecast in February. - Reuters

South Africa collected slightly less revenue than forecast in 2008/09 after a weaker economy cut tax revenue, leading to a budget deficit of 1.2percent of gross domestic product, the Treasury said yesterday. It said the country's revenue service took in R625.57billion in tax in the financial year to the end of March, R2.12billion less than the R627.69billion forecast in February. - Reuters

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