Responding to the DA and EFF’s applications to prevent the VAT increase from coming into effect on Thursday, 1 May 2025, Godongwana has defended his decision to increase the VAT rate in terms of section 7(4) of the VAT Act.
He said that the 2025/26 Budget was based on the assumption that the 0.5 percentage point VAT increase would generate about R13.5bn additional revenue for this financial year.
Read the full story on Daily Maverick.
Daily Maverick is a unique blend of news, information, analysis and opinion delivered from our newsrooms in Cape Town and Johannesburg, South Africa. There are many ways to describe exactly what we do (and for the price of a cup of coffee we’re capable of talking your ears off about it), but the best way to understand the end result is to experience it. Every part of Daily Maverick is free-to-air and no payment is required, although free registration is required for a small subset of functions and pages.
Daily Maverick is run by an independently owned, private company with no affiliation to any other media group (or political party or religious organisation.) Follow Daily Maverick on Twitter at @dailymaverick.
Go to: https://www.dailymaverick.co.za/
Topco Media 16 hours
