VAT rate rise ‘not desirable’, but ‘unavoidable’ to rebuild public finance integrity

By: Terence Creamer Finance Minister Malusi Gigaba confirmed the much-anticipated increase in the value-added tax (VAT) rate from 14% to 15% in his maiden Budget speech to Parliament on Wednesday, describing the increase as “unavoidable if we are to maintain the integrity of our public finances”. The hike was...

 

 
 
 
 
       
 
 

 

 

 

 

 

 

VAT rate rise ‘not desirable’, but ‘unavoidable’ to rebuild public finance integrity

By: Terence Creamer Finance Minister Malusi Gigaba confirmed the much-anticipated increase in the value-added tax (VAT) rate from 14% to 15% in his maiden Budget speech to Parliament on Wednesday, describing the increase as “unavoidable if we are to maintain the integrity of our public finances”. The hike was...