South Africa Set to Present Updated Budget on May 21 Following VAT Reversal
On a notable day in South African finance, Minister Enoch Godongwana revealed that the 2025 Budget Review would be re-tabled on 21 May 2025. This decision came in the wake of National Treasury’s choice to retract a proposed 0.5% increase in Value Added Tax (VAT), initially scheduled to kick in on 1 May.
Reflecting on the public and political discourse that erupted following the initial budget announcement made on 12 March, Godongwana stated, “This debate was rigorous, as is necessary in a healthy democracy.” Such…