Budget 2025: VAT off the table
24 April 2025
The proposed VAT increase in Budget 2025 is off the table with amendment to spending to be made.
3 min read
After serious political pressure within the GNU that culminated in the scrapping of the 0.5% VAT increase, South Africans will turn their attention to the third iteration of the National Budget in 2025. Budget 3.0 will re-table government’s finance and spending priorities for the year against a backdrop of rising debt and economic pressure.
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The Minister of Finance Enoch Godongwana walked a tightrope in providing financial assistance to Eskom, supporting households, and increasing investment spending. There was very little on economic reforms, emphasising the urgency for a shift in gears from blueprint policy documents to implementation.
Some of the key points were:
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Get all the expert analysis of the 2024 Budget Speech in this special edition of The Moneyweb Investor, brought to you by Investec.
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In this webinar recording, Moneyweb’s editor Ryk van Niekerk along with Dr David Masondo, Deputy Minister of Finance, Annabel Bishop, chief economist at Investec, and Keith Engel, CEO of the South African Institute of Tax (Sait), go beyond the numbers, offering you insights into the plans outlined by Finance Minister Enoch Godongwana.
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