Tag: Consumer impact of VAT rise
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If VAT Rises 2%: What It Could Mean for South African Consumers
A 2% VAT increase in South Africa could add R58 billion to the government’s revenue in 2025/26, offering significant fiscal relief but fundamentally impacting household budgets nationwide. Such an increase would raise the VAT rate to 17%, affecting prices across most goods and services. For consumers, this change would ripple through daily purchases, from groceries…