Over two million taxpayers withdraw from savings pot, says Sars

The South African Revenue Service (Sars) has reported that it has received 2,664,279 applications for tax directives for withdrawals from the two-pot system’s Savings Withdrawal Benefit.From the total number of applications, 2,403,379 tax directives were authorised for funding release. A total gross lump sum of R 43.42 billion has been paid out to date.The remaining applications were rejected for several reasons, including erroneous identity numbers and tax numbers, among others.”Sars would like to thank retirement fund management entities for their friendly and professional co-operation…