VAT to increase to 16% by 2026
Zuko Komisa Image | GCIS South Africa's value-added tax (VAT) will increase to 16% by 2026/27, with phased increases announced by Finance Minister Godongwana. This is part of a broader plan to raise revenue through various tax measures. While acknowledging the debate around VAT's impact, the Minister emphasised the need for economic growth. The planned increase is expected to generate R13.5 billion in 2025, contributing to a broader strategy of […]