SARS’ Edward Kieswetter kisses R77 billion goodbye 

South Africa’s ongoing load-shedding, a controlled power reduction to avoid overloading the grid, is expected to cost the country’s economy R400 billion more than last year, according to the Electricity Minister Kgosientsho Ramokgopa.  

He estimated the impact on the economy could amount to R1.6 trillion this year compared to R1.23 trillion last year. This could result in a loss of R77 billion in tax earnings in 2023, roughly 5% of the country’s total tax revenue.  

The hardest-hit sector is mining, which is projected to halve the amount of tax it paid in 2022. 

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