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South Africa scraps VAT increase in dramatic U-turn

Reuters on MSN · 3d

South African rand stable after VAT hike withdrawn, markets await budget clarity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 value-added tax (VAT) that was due to take effect next month and as investors awaited clarity on the budget plans.

Devdiscourse · 2d

South Africa Withdraws 0.5% VAT Increase: SARS Issues Guidance for Vendors

Commissioner Kieswetter expressed empathy for vendors and consumers who had already invested time and resources into preparing for the anticipated VAT change.

The Financial Times · 3d

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”,

6h

Good news about VAT increase

The Western Cape High Court ruled that the fiscal framework that Parliament adopted must be set aside, formally suspending a ...

Court halts proposed Vat hike

It brings to an end a dispute between the two largest parties in South Africa’s government of national unity over the revenue ...

Court halts VAT increase, parly fiscal approval overturned

The Western Cape High Court has suspended the planned increase in Value Added Tax (VAT), which was set to begin next month, ...

East Coast Radio4h

High Court suspends VAT hike, keeps rate at 15%

The Value Added Tax (VAT) hike will no longer come into effect on Thursday. The Western Cape High court suspended the 0.5% ...

Sunday World17h

‘Make sure you’re charged correct VAT rate from May 1’

The South African Revenue Service (Sars) has warned consumers to be vigilant of businesses who could charge them a 15.5% value-added ...

High Court issues draft order suspending VAT increase

The EFF had argued that the adoption of the fiscal framework by both houses was central in the unlawful process to ultimately ...

TechFinancials on MSN1d

VAT Hike Showdown: Can SA Reverse It Before Deadline?

South Africa faces a last-minute legal showdown over the controversial VAT hike, with Finance Minister Enoch Godongwana’s ...

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