- South African Finance Minister Enoch Godongwana sees a tax increase as necessary due to a budget impasse.
- The Democratic Alliance opposes the 0.5 percentage point hike in the value-added tax rate to 15.5%.
- The Democratic Alliance has filed a lawsuit to block the tax increase.
- The tax increase is scheduled to take effect on May 1.
- Godongwana stated he would reconsider if there were alternatives to the tax increase.
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"
- South Africa’s 5-Corner Peppol Integration to Modernize E-Invoicing and VAT Reporting by 2028
- New VAT Apportionment Reporting Requirements to SARS: Compliance and True-Up Adjustments Explained
- 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
