South Africa posts R14. 1bn trade surplus in April, down from March
The April surplus was driven by exports of R166.2bn and imports of R152.1bn, including trade with Botswana, Eswatini, Lesotho, and Namibia (BELN). However, the surplus was lower than the R24.8bn recorded in March, reflecting a month-on-month export decline of R4.3bn (-2.5%) and an import increase of R4.3bn (2.9%).
Compared to April 2024, exports fell 4.0% from R173.2bn, while imports dropped 4.2% from R158.8bn. The year-to-date trade surplus (January to April 2025) stood at R39.7bn slightly below the R40.6bn surplus for the same period in 2024.
Sars attributed the export decline to reduced shipments of grapes, gold, and iron ores and concentrates, while increased imports were driven by original equipment components, aeroplanes, and diamonds.
BUSINESS REPORT
Visit: www.businessreport.co.za
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
IOL News
5 hours ago
- IOL News
Do taxi, Uber, Bolt drivers have to file tax returns? SARS explains
Tax season has officially started in South Africa, and many taxi and e-hailing drivers are unsure whether they need to file tax returns Image: File Tax season has officially commenced in South Africa, leaving many taxi and e-hailing drivers, particularly those working for Uber and Bolt, uncertain about their obligations to file tax returns, including traditional taxi drivers. The tax season began on Monday, July 7 2025, with the South African Revenue Service (SARS) setting clear deadlines for different categories of taxpayers. According to the revenue collector, individual taxpayers must file their returns by October 20, 2025. Provisional taxpayers, meanwhile, have until January 19, 2026, to submit. In response to IOL's inquiries regarding the legal requirements for drivers in this sector to file tax returns, the revenue collector stated that the obligation depends on both the driver's income level and their classification as either an employee or self-employed. "A driver as an employee who earns below the threshold is not required to register for tax. This also applies to the 'owner driver' who is regarded as self-employed; however, they may register to claim deductible expenses relating to their trade," SARS said. The income tax threshold for the 2024/25 financial year is R95,750 for individuals under the age of 65. Anyone earning above that amount is required to register for tax and file a return. SARS explained that ride-hailing drivers are classified differently depending on their relationship to the company or platform they work under. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ "We must separate between an employee of an e-hailing licence holder and 'owner driver'. Employees must be provided with IRP 5 whilst the owner driver is regarded as self-employed, and they must declare their income under the right source code which relates to business activities". The correct source code for business income in the individual tax return (ITR12) is 2534. This code is used by self-employed individuals to declare income from sole proprietorships or other business activities. On the issue of data sharing from companies such as Uber and Bolt, the revenue service did not confirm any specific reporting arrangement. "SARS has access to various sources of data, and this is used for targeted compliance activities". In short, drivers who earn above the threshold of R95,750 are legally required to file tax returns, whether they are employed or self-employed. Those who earn less are not required to register, but owner-drivers may still choose to do so to claim expenses. IOL News Get your news on the go, click here to join the IOL News WhatsApp channel
The Citizen
19 hours ago
- The Citizen
Tax season: All you need to know about refunds
Tax season: All you need to know about refunds SARS has paid my refund into an old bank account, or what is delaying my refund from being paid to me? These are some of the frequently asked questions being posed by taxpayers as the 2025 tax season swings into gear. While the revenue service has already begun auto-assessing hundreds of taxpayers, those who will not be auto-assessed will begin filing their returns on Monday, 21 July. ALSO READ: Scammers target tax refunds 'Sars has started to issue auto assessments to taxpayers whose tax affairs are less complicated. If taxpayers agree with their auto assessment, no further action is required from them. 'Acceptance is automatic, so taxpayers need not manually accept the auto assessment. Taxpayers are advised to wait for the SMS or email notice before logging in to eFiling or the Sars MobiApp. 'Refunds of more than R100 due to taxpayers will automatically be paid into their bank accounts within 72 hours once the assessment is completed,' the revenue stated. Here's what you need to know about refunds this tax season: Sars has paid my refund into an old bank account, what now? Sars reminds taxpayers that the onus is on them to ensure their banking details are correct. 'Sars only pays refunds into valid bank accounts. If the 'old' bank account is still open and valid, Sars can't assist, you need to consult your bank. 'However, if the account is closed, the credit will be returned by the bank and automatically reversed by Sars. This also invalidates the bank details and communication will be issued to taxpayer.' I've been auto assessed but need to update my banking details, how can I stop the refund from being paid into the wrong account? Sars will verify the details of the bank account with the relevant financial institute electronically prior to refunding you. If there is a mismatch, Sars will request you to verify your bank details. It is, however, recommended that you ensure your bank details are correct to prevent any delays in Sars refunding you. What could delay my refund from being paid to me? • When your banking details have been identified for verification, the process can take up to 21 business days from the date all the required supporting documents are received • If your income tax return is selected for verification, it may take up to 21 business days from the date all the required supporting documents are received to conclude a verification. Thereafter, the refund should be paid within 72 hours • If your return is selected for audit, it could take up to 90 business days from the date of receipt of all the required supporting documents in a complete and correct manner unless alternative arrangements are communicated • If you have outstanding returns, the refund will not be paid until all outstanding tax returns have been submitted • If your banking details are incorrect • If you have outstanding debt on your account Getting ready for filing season? SARS has got you covered! Whether it's your first time or you're a pro, our guide will help you file your return with ease: More info: #FilingSeason2025 — SA Revenue Service (@sarstax) July 14, 2025 Don't have the ZO app? Download it to your Android or Apple device here: HAVE YOUR SAY Like our Facebook page and follow us on Twitter. For news straight to your phone invite us: WhatsApp – 060 784 2695 Instagram – zululand_observer At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
The South African
21 hours ago
- The South African
SARS eFiling: How to update your banking and contact details
The South African Revenue Service (SARS) continues to notify taxpayers of auto-assessments that have been issued as the tax season has begun; however, some taxpayers may not have received the notices as they have probably changed their contact details. Here's a step-by-step guide on how you can update your banking and contact details on SARS eFiling. Here's how you can check/update your details on the SARS system: Log in to Click on 'Home'. Click on 'SARS registered details'. Click on 'Maintain SARS Registered Details'. Select the item you want to update: My Addresses My Bank Accounts My Email Addresses My Trading Name Details My eFiling Security Details If correct, you are all set to receive communication from SARS. If your details are incorrect or have changed: You can edit/change the details while still on the relevant screen. Remember to click on 'Done' and then 'Submit' once you have updated the details. According to the revenue service, the 'Forgot Username or Password' function will trigger a one-time password to your security contact details on the system. To check that SARS still has your correct email address and cell number, log in to and click on 'My Profile' on the top-left of the screen. If one of the security details has changed, you can update it here on the screen, but if both have changed, you will need to call the Contact Centre on 0800 00 7277 or visit a branch (remember to make an appointment first). Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1. Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X, and Bluesky for the latest news.
