GNU revolt forces Godongwana into abrupt VAT U-turn
Finance minister’s decision comes amid political and legal pressure to reverse planned hike
23 April 2025 - 23:23
UPDATED 24 April 2025 - 23:30
In a dramatic U-turn that blew a big hole in the country’s finances and potentially averted the break-up of the government of national unity (GNU), the Treasury has scrapped a planned hike in the VAT rate.
Finance minister Enoch Godongwana issued the Rates and Monetary Amounts and Amendments of Revenue Laws Amendment Bill on Thursday, scrapping a planned 0.5 percentage points VAT rate increase this year...
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