South Africa's Finance Minister, Malusi Gigaba, presented the 2018 Budget to the National Assembly February 21, 2018. In his speech, Minister Gigaba announced several tax measures to address the budget deficit currently faced by the South African Ministry of Finance. Notably, the Minister has proposed an increase in the VAT rate from 14% to 15%. If the budget bill, as proposed, is signed by the President this new rate will go into effect on April 1, 2018.
About the AuthorMore Content by Kaitlyn Smethurst