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South Africa, VAT and tax increase

South Africa scraps proposed tax increase after pushback from coalition partners and opposition

The South African government has canceled a proposed tax increase that has threatened to collapse the unity government after a pushback from various political parties.

The Financial Times · 52m

South Africa scraps VAT increase in dramatic U-turn after coalition rift

In a late-night announcement, finance minister Enoch Godongwana said the proposal to lift VAT from 15.5 per cent to 16 per cent over two years had been dropped after “extensive consultation with political parties”,

Reuters · 2h

South Africa abandons planned VAT hike after pushback

South Africa on Thursday scrapped plans to raise value-added tax after a political backlash that threatened the stability of the ruling coalition government.

1hon MSN

ANC U-turn over tax that threatened South Africa's government

The finance minister has warned that spending cuts or a rise in other taxes could follow.

22h

Europe's Value-Added Tax Is Off The Table in Trade Talks, Top Official Says

The European Union won’t negotiate changes to its value-added taxes or agricultural subsidies as part of trade discussions with the U.S., the bloc’s economy commissioner said early Wednesday. “We do ...

6hon MSN

South African rand marginally stronger after VAT hike withdrawn

The South African rand was marginally stronger in early trade on Thursday, after the finance ministry said it was withdrawing ...

Polity.org.za4h

DA celebrates VAT hike reversal, questions Godongwana’s decision

The Democratic Alliance (DA) on Thursday expressed jubilation at Finance Minister Enoch Godongwana’s reversal of the ...

Moneyweb2h

Godongwana’s Vat rewind may hit legal wall

Kyle Mandy, tax partner at PwC, says that Section 7 (4) of the Vat Act operates as the law stands now because the minister ...

Farmer's Weekly2h

Finance Minister Enoch Godongwana scraps VAT increase

Keeping value added tax (VAT) at 15% will benefit consumers and farmers. The National Treasury announced on the morning of 24 ...

allAfrica.com on MSN3h

Proposed VAT increase to be reversed

National Treasury’s proposed 0.5% Value-Added Tax (VAT) increase is expected to be withdrawn when Finance Minister Enoch ...

East Coast Radio8h

BREAKING: Godongwana reverses decision on VAT increase

The proposed VAT increase has been reversed. National Treasury issued a statement after midnight to say that the Value-Added ...

EWN8h

Godongwana to reverse decision to hike VAT

This was confirmed in an overnight media statement by the National Treasury, which said that VAT would remain at 15%.

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