- Finance Minister Enoch Godongwana sees no reason to resign after reversing a proposed tax increase.
- The proposed increase in value-added tax was set to raise the levy from 15 percent to 15.596 percent.
- Godongwana faced calls to step down from some opposition parties after scrapping the tax increase.
- He stated it is his constitutional role to propose money bills in parliament.
- The proposed VAT hike threatened the coalition government formed by the ANC.
- The Democratic Alliance opposed the increase and took legal action to block it.
Source: news24.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"
- 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
