In his maiden Budget Speech on 21 February 2018, finance minister, Malusi Gigaba, announced that VAT (value-added tax) would be increased by 1 percentage point from 14% to 15% with effect from 1 April 2018.
It is South Africa’s first VAT increase in 25 years.
If you would like to learn more about the recent all the changes concerning South African tax law, I recommend you register for the upcoming 2018 Budget & Tax Update Webinar event to be hosted by the South African Institute of Tax Professionals (SAIT) on 20 March 2018..
SAIT is the regulating and controlling body for tax practitioners in Southern Africa. What’s more, you will need to be a member of this important body if you aspire to apply for a SARS licence to practice as a tax professional.
For more information on upcoming tax events, go to SAIT website at http://www.thesait.org.za.
Please Note: All SAIT members qualify for a discount if they attend this rich content event – live seminar or webinar, especially if you’re in the tax practice field.