In a written reply to a Parliamentary question from Democratic Alliance MP Darryl Worth‚ Gordhan said that for the period 1 September 2010 to 31 March 2011 R625.89m had been collected‚ from 1 April 2011 to 31 March 2012 R1.617bn was collected and from 1 April 2012 to 30 April 2012 R141.38m had been collected.
The tax is imposed on carbon dioxide emissions above 120g/km at R75/g/km for passenger vehicles; and‚ for double cabs‚ at R100/g/km for carbon dioxide emissions above 175g/km.
Gordhan said the revenue from the vehicle tax formed part of the national revenue fund‚ which was the government's general revenue fund and was not earmarked for specific expenditure programmes.
Source: I-Net Bridge
Foreign exchange purchases swell Reserve Bank loss. Meanwhile, still on the financial front, according to IOL, the Reserve Bank has reported financial losses for the third year in a row.
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