- South African President Cyril Ramaphosa mentioned the National Treasury is exploring options to avoid raising VAT.
- The likelihood of avoiding a VAT increase is low.
- The Democratic Alliance, part of a coalition with the ANC, did not support a budget law related to VAT increase.
- The ANC passed the proposal with support from parties outside the government of national unity.
Source: news.bloombergtax.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.
Latest Posts in "South Africa"
- VAT Treatment of Municipal Supplies to National or Provincial Government in South Africa
- South Africa Proposes VAT Law Amendments to Implement E-Invoicing and Digital Reporting Framework
- Umkhonto Wesizwe Party Protests VAT Increase Ahead of Finance Minister’s Budget Speech in Pretoria
- South Africa’s Move to Mandatory E-Invoicing: Draft Law, Public Consultation, and Future Plans
- Briefing document & Podcast: South Africa’s E-Invoicing and Real-Time Reporting Overhaul
