PwC has pencilled in an increase in personal income tax or in the VAT rate by the National Treasury to raise the additional R15bn in revenues that finance minister Enoch Godongwana announced he would need during the medium-term budget policy statement.

Godongwana will present the 2024 national budget, which is said to be one of the toughest budgets in years as it takes place against a backdrop of economic recovery efforts and possible fiscal slippage, in parliament on Wednesday...

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