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Finance Minister Enoch Godongwana has proposed a 0.5 percentage point increase for value-added tax (VAT) in the 2025/26 financial year, followed by a further 0.5 percentage point increase in 2026/27.
He made the announcement while presenting his 2025 Budget Speech on 12 March 2025. The speech was originally intended to take place in February but was postponed after cabinet could not agree on the VAT hike.