VAT increases explained: The impact it will have on consumers.
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GUESTS – Lance Collop, a leading tax expert and founder of Collop Tax Collective AND Mervyn Abrahams, a programme co-ordinator from PMBEJD
What a difference two percentage points can make. For the government, it could mean up to an additional R58 billion in revenue in 2025/26 through an increase in the VAT rate, but will the cost for the average person in the street be too high? Some parties in the Government of National Unity certainly seem to think so.
What a difference two percentage points can make. For the government, it could mean up to an additional R58 billion in revenue in 2025/26 through an increase in the VAT rate, but will the cost for the average person in the street be too high? Some parties in the Government of National Unity certainly seem to think so.