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UPDATE 1-South Africa close to hitting 2017-18 revenue target

(Add details, minister quotes)

PRETORIA, April 3 (Reuters) - South Africa's revenue service came very close to meeting its revenue collection target for last financial year, Finance Minister Nhlanhla Nene said on Tuesday, citing provisional data.

"The preliminary result is very close to (the) forecasted estimate of 1.217 trillion rand ($103 billion)," Nene said at a press briefing in Pretoria.

He said the preliminary data showed 1.216 trillion rand was collected in the year to the end of March.

"One of our forecast areas should be to restore and rebuild public trust and credibility. It is critical that all taxpayers and citizens have full confidence that every cent provided to the fiscus will be well spent, Nene said.

The revenue service missed its revenue target for the 2016-17 financial year, a gap the Treasury said was partially to blame for the nearly 49 billion rand budget shortfall.

Last month, President Cyril Ramaphosa suspended the head of the SARS revenue service, Tom Moyane, pending disciplinary action, citing a deterioration in public confidence over numerous scandals.

The Treasury said in February it would raise value-added tax to 15 percent from 14 percent to generate an additional 23 billion rand of revenue.

($1 = 11.8397 rand) (Reporting by Olivia Kumwenda-Mtambo and Nomvelo Chalumbira Writing by Mfuneko Toyana Editing by Tiisetso Motsoeneng and Mark Potter)