South Africa to withdraw planned VAT hike, finance ministry says

JOHANNESBURG, April 24 (Reuters) - South Africa will not increase its value-added tax (VAT) effective May 1 as announced in the 2025 budget, the finance ministry said on Thursday. The National Treasury had planned to raise VAT by 1 percentage point spread over two years, but some political parties opposed the hike. Sign up here.

Reporting by Olivia Kumwenda-Mtambo; Editnig by Kim Coghill Our Standards: The Thomson Reuters Trust Principles. , opens new tab.