Latest News & Developments
value added tax
U-Turn on VAT hike is good news for inflation, but revised Budget will still hurt the poor
The scrapping of the VAT hike offers inflation relief, but leaves South Africa's government facing a significant revenue shortfall that could still impact the poorest households.
GNU under strain as DA and FF Plus respond to ANC
The DA and Freedom Front Plus have reaffirmed their commitment to South Africa's Government of National Unity despite tensions with the ANC over the recent budget vote.
Political tensions rise as Budget narrowly passes with VAT Hike, set to be challenged in court
The Government of National Unity faces its biggest test as the narrowly-passed National Budget with its controversial VAT increase sparks political tension. With the DA heading to court and the rand weakening in response, what does this mean for South Africa's economic stability?
Finance Minister Enoch Godongwana faces backlash over linking SRD grants with proposed VAT hike
Advocacy group Black Sash has accused Finance Minister Enoch Godongwana of "using" the SRD grant as leverage to gain acceptance for a VAT hike.
MKP demands alternatives to VAT increase ahead of budget speech
Umkhonto Wesizwe Party warns against a proposed VAT increase, advocating for wealth taxation and other revenue-generating measures to alleviate the financial burden on South African citizens.
Mmusi Maimane urges immediate action on SA's budget crisis
BOSA leader Mmusi Maimane emphasises the urgent need for decisive government action to tackle the unsustainable budget deficit, warning of dire economic consequences if critical fiscal decisions are not made.