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VAT to be hiked by one percentage point over two years

Minister of Finance, Enoch Godongwana, delivered the Budget Speech announcing a contentious VAT increase of 1 percentage point over two years. Several GNU partners have rejected the Budget, signalling stormy waters ahead as the matter now goes to Parliament, where it will be debated in the committees, and finally, the National Assembly.
VAT to be hiked by one percentage point over two years Minister of Finance Enoch Godongwana briefs the media before his Budget speech to members of the National Assembly on 12 March 2025. (Photo: Jairus Mmutle / GCIS)

Comments

John Kannemeyer Mar 12, 2025, 03:56 PM

If the DA do not stick to their word on NOT supporting this budget they are going to be desperately searching for Voters at the next elections.

Rencia Cloete Mar 12, 2025, 04:36 PM

Interesting! SA is the fore-runner of governments sortnig out their nonsense. We are on the knife's edge here. HEY Elected People! Keep it together ye. Find a good solution. Mr. Ramaphosa - lead us make us proud! Shame Godongwana's eyes are bloodshot, he's been working the midnight oil ey!

Richard Kennard Mar 12, 2025, 04:41 PM

Trying to figure a contract account which kicked off in January this year & ends April next year. It looks like 3 different vat rates will need to be applied over 3 tax years. Have the powers to be considered the added grief?

D'Esprit Dan Mar 12, 2025, 09:41 PM

A dog's breakfast of non-delivery, when real reforms would've delivered real results. Godongwana has kept the wheels of the gravy train well oiled.