Duma Gqubule weighs in on canned VAT increase
JOHANNESBURG - South Africans won't be paying more for VAT as previously proposed.
That's because Finance Minister Enoch Godongwana has backtracked on the tax increase.
The decision follows consultations and recommendations from Parliamentary committees.
Godongwana will now table a Rates Bill to ensure that VAT remains at 15%.
According to economist Duma Gqubule, the basic goal of budget fiscal and monetary policy is to stimulate economic growth and employment creation.
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