Minister Malusi Gigaba
By Hermann Marais, associate, Tax practice at Bowmans.
Potential VAT increases have been discussed for several years, despite being politically sensitive. The urgency for an increase in the VAT rate escalated towards the end of 2017 when Finance Minister Malusi Gigaba announced in the Medium Term Budget Policy Statement that there would be a ZAR 50.8 billion tax revenue shortfall this year. (more…)
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