Responding to the DA and EFF’s applications to prevent the VAT increase from coming into effect on Thursday, 1 May 2025, Godongwana has defended his decision to increase the VAT rate in terms of section 7(4) of the VAT Act.
He said that the 2025/26 Budget was based on the assumption that the 0.5 percentage point VAT increase would generate about R13.5bn additional revenue for this financial year.
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Dentsu 19 hours
Mary Kyriakidi, Kantar 1 day
