Godongwana reveals the budget item causing VAT hike chaos in South Africa

BusinessTech

Finance Minister Enoch Godongwana insists on raising the country’s VAT rate to sustain the Social Relief of Distress (SRD) grant. He argues that cutting the grant would eliminate the need for the VAT hike. The grant, initially a temporary measure during the pandemic, now faces expansion to a basic income grant by President Cyril Ramaphosa, necessitating additional funding.

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