Economist Criticizes Godongwana’s Budget and Staggered VAT Hike

Finance Minister Enoch Godongwana has announced a staggered increase in Value-Added Tax (VAT), raising it by 0.5 percentage points on May 1, 2025, followed by another 0.5 percentage point hike next year. By the 2026/27 financial year, VAT will stand at 16%. The decision, unveiled during his revised Budget Speech in Parliament on March 12, follows heated debate over an initial proposal to raise VAT by 2 percentage points in […]