- South Africa’s Minister of Finance will present the 2025 budget speech on February 19, 2025.
- Import VAT collections decreased by 4.5% compared to the same period in 2023/24 due to lower imports of energy-related components.
- A VAT rate increase could negatively impact economic growth and disproportionately affect lower-income households.
- The government is expected to expand the basket of zero-rated essential food items to support poor South Africans.
Source: ensafrica.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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