South African VAT to increase to 15% from 1 April
Finance minister Malusi Gigaba has announced that South Africa will see its first VAT rate increase for the first time in 25 years. As of 1 April 2018, the effective VAT rate will rise from 14% to 15% adding approximately R22,9 billion to the fiscus, Gigaba said in his budget speech on Wednesday. “In developing…