- South Africa’s 2025 budget includes a proposed VAT hike.
- The budget was rejected by most parliamentary parties.
- The budget will be considered by lawmakers in three stages.
- Lawmakers have until April 3 to approve the fiscal framework.
- If the budget is not passed by April 1, the government can continue spending up to 45% of the previous year’s budget.
- The VAT hike can be implemented on May 1, even if the budget has not been passed.
Source: reuters.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
