South Africa's Finance Minister Enoch Godongwana says the Treasury has decided to reverse the 0.5% Value Added Tax (VAT) increase.

 This after the Minister and political parties who had challeged the increase in court, have reached an out of court agreement. In a statement released over night, Minister Godongwana says he has written to the National Assembly Speaker, indicating the decision to reverse VAT increase which was supposed to come into effect on the 1st of next month. This means that VAT will remain at 15%.

To discuss this further Democratic Alliance (DA), Member of Parliament  and Spokesperson Willie Aucamp joined Peter Ndoro.

South Africa's Finance Minister Enoch Godongwana says the Treasury has decided to reverse the 0.5% Value Added Tax (VAT) increase.
&nbsp;This after the Minister and political parties who had challeged the increase in court, have reached an out of court agreement. In a statement released over night, Minister Godongwana says he has written to the National Assembly Speaker, indicating the decision to reverse VAT increase which was supposed to come into effect on the 1st of next month. This means that VAT will remain at 15%.
To discuss this further Democratic Alliance (DA), Member of Parliament &nbsp;and Spokesperson Willie Aucamp joined Peter Ndoro.