Treasury scraps VAT hike,faces R78bn shortfall

What this episode covers

National Treasury’s decision to withdraw its proposed VAT hike has left a R78-billion gap in the national budget, forcing Finance Minister Enoch Godongwana to explore new ways to raise revenue and curb government spending. Treasury had initially planned to increase Value Added Tax (VAT) by 1%, moving it from 15% to 16%, in an effort to boost revenue. However, the proposal was met with swift public backlash, prompting its reversal on Thursday. Jacaranda FM news reporter Mmangaliso Khumalo spoke to Leonard Willemse, Director at AJM Tax, for more insight into the developments.

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Frequently Asked Questions

How long is this episode of Jacaranda FM Newswatch - Interviews?

This episode is 5 minutes long.

When was this Jacaranda FM Newswatch - Interviews episode published?

This episode was published on April 25, 2025.

What is this episode about?

National Treasury’s decision to withdraw its proposed VAT hike has left a R78-billion gap in the national budget, forcing Finance Minister Enoch Godongwana to explore new ways to raise revenue and curb government spending. Treasury had initially...

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