News

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 ...
BusinessTech6h
Big question over VAT withdrawal in South Africa
With National Treasury announcing the reversal of the contentious 0.5 percentage points VAT hike on Thursday (24 April), ...
ANC U-turn over tax that threatened South Africa's government
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.
South African rand stable after VAT hike withdrawn, markets await budget clarity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 ...
The Citizen6h
A R1 billion U-turn: Scrapping the VAT increase leaves no winners, just absolute chaos
The minister of finance announced in a statement loaded on National Treasury’s website at 15 minutes after midnight that the ...
The South African on MSN6h
Government’s late VAT hike reversal hits business
The government's last-minute reversal of the VAT hike sparked criticism, as businesses had already spent millions.
South African rand gains after VAT increase withdrawn
The South African rand gained slightly on Thursday after the finance ministry said it was withdrawing a contentious increase ...
Briefly on MSN1h
Eskom Announces Sudden Stage 2 Loadshedding, SA Believes It’s Because the VAT Hike Was Scrapped
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.
The South African on MSN7h
VAT Freeze: What it means for the price of basic goods in SA
South Africa's finance minister has officially withdrawn the proposed 0.5% increase in VAT. What does this mean for basic ...