Proposed 0.5% increase in VAT has serious implications for SME's in SA

Proposed 0.5% increase in VAT has serious implications for SME's in SA

The postponement of the tabling of the 2025/26 budget on 19th February due to fierce disagreement among parties in the Government of National Unity (GNU) over the original proposed VAT increase of 2%, and the subsequent tabling of the budget on 12th March with a reduced 0.5% VAT increase remains a significant step in our country’s maturing democracy.  “For the first time, South Africa is no longer bound by the economic policies of a single party…