According to the South African Institute of Professional Accountants, there is a 75% chance that the VAT rate, which currently stands at 14%, can be increased to 15%.
The announcement could come in the next budget speech.
The main reason is for the funding of students after the #FeesMustFall mess in late 2016.
Drought Relief and the National Health Insurance Scheme may also have an impact on the increase.
Read the original article in Afrikaans on Die Vryburger
South Africa Today – South Africa News
