South Africa Set for VAT Hike Pending Parliamentary Approval
While the Government of National Unity has yet to endorse the change, the first increase will take effect pending any parliamentary override.
South Africa’s Finance Minister has proposed a two-phase VAT increase, raising the rate from 15% to 15.5% on 1 May 2025, and to 16% on 1 April 2026, ey has reported.
While the Government of National Unity has yet to endorse the change, the first increase will take effect pending any parliamentary override.
Parliament will need to pass legislation to either confirm or block the change, but in the absence of opposition, the increases will proceed as scheduled.
