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South Africa scraps VAT increase in dramatic U-turn

South Africa scraps proposed tax increase after pushback from coalition partners and opposition

The South African government on Thursday canceled a proposed tax increase that had threatened to collapse the unity government after a pushback from various political parties.Finance Minister Enoch Godongwana announced that the government would no longer implement a 0.

The Financial Times · 1d

South Africa scraps VAT increase in dramatic U-turn after coalition rift

In a late-night announcement, finance minister Enoch Godongwana said the proposal to lift VAT from 15.5 per cent to 16 per cent over two years had been dropped after “extensive consultation with political parties”,

Reuters · 1d

South Africa abandons planned VAT hike after pushback

South Africa on Thursday scrapped plans to raise value-added tax after a political backlash that threatened the stability of the ruling coalition government.

1don MSN

South Africa withdraws planned VAT hike after political pushback

South Africa has abandoned plans to increase value-added tax from May 1, the finance ministry said on Thursday, after the ...

iAfrica10h

Parties Hail End of ANC Dominance After VAT Hike Reversal

Several political parties have welcomed the end of the African National Congress (ANC)’s political dominance, saying it can no longer unilaterally impose tax increases without coalition consensus.

1don MSN

Massive triumph for political organisations as treasury scraps 0.5% VAT increase

Godongwana has announced that the National Treasury would no longer be implementing the controversial 0. 5 percentage points increase in the VAT from 1 May in a statement on Wednesday night ...

BusinessTech1d

Bad news for anyone paying income tax in South Africa

While all the focus is on the reversal of the VAT hike in South Africa, individual taxpayers are still on the hook for almost ...

11hon MSN

South African rand firms as investors seek clarity on budget

South Africa's rand firmed on Friday as investors awaited clarity amid a dispute over the national budget that has rattled ...

News242d

R335m for political parties; Meet Ace Magashule's judge: Today's Top 7 stories in 7 minutes

News24 brings you the top stories of the day, summarised into neat little packages. Read through quickly or listen to the ...

The Citizen1d

Why South Africa’s youth voters are staying away from the polls

Youth disillusionment, political mistrust and lack of opportunity are keeping millions away from the polls, raising concerns ...

Briefly on MSN3d

ActionSA Accuses DA of Using Budget Speech for Political Gain, Says Party MP Helped Plan 2% VAT Hike

ActionSA has accused the DA of using the budget speech for political gain, saying that a DA MP was complicit in planning the ...

Biznews4d

Orania: South Africa’s most functional town - or its most misunderstood?

Key topics Orania thrives through self-reliance and zero state supportTown upholds Afrikaner culture via education, economy, ...

The Citizen2d

Trick or Treat? ActionSA and Bosa may have signed political death wish if VAT increase goes through

Mbalula says the ANC salutes parties that have put the interest of South Africans above narrow party politics by backing the ...

EWN1d

Young people not apathetic to voting, they don't trust political parties, govt - IEC

The IEC held a media briefing on Wednesday, where it announced it had officially begun preparing for the upcoming local ...

Al Jazeera on MSN1d

Can South Africa help Russia and Ukraine reach a peace deal?

As Ukraine’s Zelenskyy meets South Africa’s Ramaphosa in Pretoria, Moscow-allied politicians protest the state visit.

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