- Government needs billions in revenue, experts split on VAT hike in 2024 Budget
- PwC suggests VAT increase as most efficient way to collect needed revenue
- ENS Africa supports VAT increase to fund social spending and make SRD grant permanent
- Other experts like Sage and SAIPA Centre of Tax Excellence believe there will be no VAT increase
- Concerns about VAT’s regressive nature and impact on less wealthy
- SARS working on digitizing VAT process to improve collections without need for increase
Source: businesstech.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"
- SARS Seeks Public Input on Customs Rules for Transfer Pricing Adjustments, Ending October 2025
- South Africa’s New Voluntary Disclosure Programme to Revolutionize Customs and Excise Compliance
- South Africa Prepares Major VAT Reforms
- 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
