- The Inkatha Freedom Party supports the country’s budget.
- The party supports the budget with the condition that the VAT increase is temporary.
- The IFP wants the VAT increase to be removed when more viable economic income streams are secured.
- The IFP wants President Cyril Ramaphosa to call an urgent Cabinet meeting to discuss measures for economic growth and review spending patterns.
- The IFP supports the budget but remains committed to accountability for effective and transparent fiscal management.
- The IFP wants to tighten loopholes, including the R800 billion that is currently not collected by the South African Revenue Service.
- The IFP remains opposed to further borrowing.
Source: iol.co.za
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.
Latest Posts in "South Africa"
- High Court Upholds Tax Court Ruling: Payroll Service Provider Not Liable for SDL and VAT
- Eswatini’s E-Invoicing Initiative: Advancing Tax Compliance and Digital Transformation by January 2028
- South Africa to End VAT Exemption on Low-Value Imports, Impacting eCommerce and Education
- South Africa to Implement E-Invoicing and Real-Time VAT Reporting in Major Tax Overhaul
- Law to Phase Out Import VAT Relief on Small Parcels
