On the 21st of February 2018, former Minister of Finance, Malusi Gigaba, announced in his budget speech that VAT will increase from 14% to 15% on the 1st of April 2018. But what does this mean to everyday consumers such as you and me? Here are answers to VAT-questions you’ve been asking.
The 2018 budget speech was delivered on 21 February 2018 by then Finance Minister Malusi Gigaba, who described it as “a tough, but hopeful budget”. With the government looking to raise an additional R36bn in taxes for 2018/2019, this is how it will affect ordinary South African citizens.
Times are tough and debt is rising in many households. Marthinus Fourie MD of bsmart offers some good advice on how to beat the debt bug in the coming year.