Explore how South Africa's proposed 16% VAT rate stacks up against global standards and what it means for consumers.

South Africa's National Treasury on Wednesday proposed a smaller hike in value-added tax in a revised budget aimed at smoothing divisions in the ruling coalition, but uncertainty remained over whether it would get the support in parliament to pass.

Finance Minister Enoch Godongwana delivered the 2025 National Budget Speech on Wednesday (12 March). The budget addressed several key points, including the country’s current economic status, growth projections, substantial debt servicing costs, proposed increases in VAT and sin taxes, and the continuation of the social relief grant.

Finance Minister Godongwana's proposed VAT increases could severely impact 36 million South Africans living in low-income households. Discover how the government plans to protect vulnerable families through expanded zero-rated food items and what this means for daily survival.

South Africa's budget may be tweaked further as more talks between political parties will try to overcome differences over a contentious plan to raise value-added tax, the country's finance minister told Reuters.

Finance Minster Enoch Godongwana Wednesday tabled his budget for the for the 2025/2026 financial year, a month after it was postponed following a fall-out with the ANC’s biggest coalition partner over value-added tax hikes.

South African Finance Minister Enoch Godongwana may have to make changes to the national budget after parties that control more than half the seats in parliament rejected his plans to raise taxes.

South Africa's cabinet was still meeting on the 2025 budget less than one hour before the finance minister was due to present it in parliament on Wednesday, a source from the Democratic Alliance party said,