South Africans across the country can now breathe a sigh of relief as Minister of Finance Enoch Godongwana has announced his decision to reverse the proposed 0.5% VAT increase, which was set to come into effect as of next week. The announcement came after the minister received lots of pressure from opposition parties like the […]
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South Africans will soon be paying more for everyday essentials as the government considers an increase in Value Added Tax (VAT). Finance Minister Enoch Godongwana said in the 2025 Budget Speech that the government proposes to increase South Africa’s VAT rate by 0.5 percentage points in 2025/26 and 0.5 percentage points in 2026/27. This will […]
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The 2025 Budget Speech was delivered by Minister of Finance Enoch Godongwana, March 12, 2025, at the National Assembly in Cape Town. According to the speech, the budget remains committed to a balanced fiscal strategy, with a projected budget primary surplus of 0.5% of GDP in 2024/25, growing to 0.9% in 2025/26. The budget speech […]
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