With National Treasury announcing the reversal of the contentious 0.5 percentage points VAT hike on Thursday (24 April), ...

The reversal of the planned VAT increase and expansion of zero-rated food items, though easing pressure on consumers, has ...

South African Finance Minister Enoch Godongwana said on Thursday he will not resign after the government's U-turn on a ...

The Democratic Alliance claimed victory for the reversal of the VAT increase, but other political parties are not impressed ...

The Caucus of the African National Congress (ANC) in Parliament welcomes the announcement by the Minister of Finance to stop ...

President Cyril Ramaphosa greets supporters after casting his vote at the Hitekani Primary School in Soweto, Johannesburg, ...

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.

News today includes the proposed VAT increase being reversed and remaining at 15% after a two-month battle over the unpopular ...

National Treasury announced that government had backtracked on its plan to raise VAT by 0.5% next month but also warned that tough spending decisions lie ahead to fill a R75 billion budget gap.

Scrapping the VAT increase will slightly affect inflation, but government will have to find the money elsewhere to balance the budget.

Treasury has backtracked on its fiscal framework due to political backlash. The DA and EFF took to the Western Cape High Court earlier this week demanding the proposed VAT hike to be scrapped. The DA ...

Eskom has implemented Stage 2 loadshedding on short notice, but many said they expected it after the VAT increase was scrapped by the Finance Minister.