News

South Africa withdraws planned VAT hike after political pushback
South Africa has abandoned plans to increase value-added tax from May 1, the finance ministry said on Thursday, after the ...
The Citizen10h
A R1 billion U-turn: Scrapping the VAT increase leaves no winners, just absolute chaos
The minister of finance announced in a statement loaded on National Treasury’s website at 15 minutes after midnight that the ...
BusinessTech37m
Big question over VAT reversal in South Africa
With National Treasury announcing the reversal of the contentious 0.5 percentage points VAT hike on Thursday (24 April), ...
South African rand stable after VAT hike withdrawn, markets await budget clarity
The South African rand was stable on Thursday after the finance ministry said it was withdrawing a contentious increase in ...
ANC U-turn over tax that threatened South Africa's government
The party of South Africa's President Cyril Ramaphosa has reversed a controversial proposed value-added-tax (VAT) rise that had threatened the country's coalition government.
The South African on MSN9h
EFF calls for ‘incompetent’ Godongwana’s head over VAT increase reversal
The EFF is one of the political parties which rejected the VAT increase and even went to court to challenge the matter.
Daily Maverick on MSN15h
VAT increase withdrawn, expenditure adjustments on the cards
In a media statement issued on its website in the middle of the night, the National Treasury announced the reversal of the controversial VAT increase, which was meant to take effect in a week's time - ...
VAT hikes can raise tax without hurting the poor: an economist sets out the evidence
Tax experts usually refer to the three Es in taxes – equity, efficiency and ease of administration. A VAT increase, done ...