- Finance Minister Enoch Godongwana proposed a 0.5% Vat hike for 2025/26 and another 0.5% hike for 2026/27, taking SA's Vat rate to 16% by April 2026.

- The proposal is expected to raise R28 billion in additional revenue in 2025/26 and R14.5 billion in 2026/27, with most funds allocated to increase the public sector wage bill.

- The Vat increase will become effective on May 1, 2025, with no adjustment for inflation in personal income tax brackets for 2025/26, affecting middle-class South Africans.

- To provide relief, the government proposes additional Vat zero-rating of essential food items and no changes to the fuel levy, with above-inflation increases for social grants.

- The consolidated budget deficit is expected to narrow from 5% of GDP in 2024/25 to 3.5% of GDP in 2027/28, with government debt stabilizing at 76.2% of GDP in 2025/26

- Finance Minister Enoch Godongwana proposed a 0.5% Vat hike for 2025/26 and another 0.5% hike for 2026/27, taking SA's Vat rate to 16% by April 2026.
- The proposal is expected to raise R28 billion in additional revenue in 2025/26 and R14.5 billion in 2026/27, with most funds allocated to increase the public sector wage bill.
- The Vat increase will become effective on May 1, 2025, with no adjustment for inflation in personal income tax brackets for 2025/26, affecting middle-class South Africans.
- To provide relief, the government proposes additional Vat zero-rating of essential food items and no changes to the fuel levy, with above-inflation increases for social grants.
- The consolidated budget deficit is expected to narrow from 5% of GDP in 2024/25 to 3.5% of GDP in 2027/28, with government debt stabilizing at 76.2% of GDP in 2025/26

with Paul Mnisi , Isaac Gampu  & Lonwabo Nkohla on your Sports Desk

with Paul Mnisi , Isaac Gampu  &amp; Lonwabo Nkohla on your Sports Desk

#The Drive Connection

with Paul Mnisi , Isaac Gampu  & Lonwabo Nkohla in Sports

with Paul Mnisi , Isaac Gampu  &amp; Lonwabo Nkohla in Sports