Vat Increase
latest news & developments
Godongwana holds better budget cards but economic recovery remains inadequate
Labour federations Cosatu and the South African Federation of Trade Unions have led calls for a budget that addresses massive unemployment and weak growth
Godongwana forecasts better revenue, strikes optimist tone in medium term budget
The finance minister announced a lower inflation target of 3%, which the South African Reserve Bank has been pushing for
MK party targets Ramaphosa, Godongwana in motion of no confidence over budget ‘chaos’
uMkhonto weSizwe party is calling for the nationalisation of mineral resources, land redistribution without compensation and the expansion of the VAT zero-rated basket
Budget 3.0 – Godongwana’s last shot
Now that a VAT increase has been ruled out, the finance minister must find another way to plug a R75bn gap or risk collapsing public services and investor confidence
High court suspends VAT hike
The Democratic Alliance launched the application against the finance minister, the South African Revenue Service, the Speaker of the National Assembly and the Chairperson of the…
VAT battle is over but coalition crisis continues
Meetings are due in coming days and weeks to undo the damage after the finance minister caved on the tax increase
VAT to remain at 15% after Godongwana caves
The finance ministry in a midnight announcement said the decision was informed by consultations with political parties
Approval of the fiscal framework was rooted in deception, court hears
Counsel for the EFF told the high court that ActionSA was swindled in an unconstitutional manner to support a VAT hike.
Godongwana tells court VAT increase cannot be interdicted
Amending his proposal at this stage would force more borrowing, the minister warned in papers filed in response to the DA
DA not ‘walking away’ after talks with ANC to rescue coalition
The parties remain divided over an increase in VAT, which the DA says South Africans cannot afford
ANC, DA confirm meeting to try and save coalition, but offer little detail
The stand-off between the two parties dates back to 19 February when DA leader John Steenhuisen made clear the party would not support a national budget that proposed a two…
ANC and DA contemplate end of days
Both parties are mindful of the magnitude of a split as South Africa faces more economic turmoil
Not on our watch: DA moves to block VAT hike through legal action
In its court papers filed on Thursday, the party said the fiscal framework that will lead to the tax increase was pushed through unprocedurally
Ramaphosa wants the DA to remain in the coalition
But the presidency said on Wednesday the crunch vote on the fiscal framework was a test of the party’s commitment to the GNU
Budget: Finance committees approve fiscal framework at 11th hour
The agreement came thanks to a lifeline ActionSA threw the ANC