Tag: Personal Income Tax

In the 2025 Budget Speech, Finance Minister Enoch Godongwana unveiled a proposed staggered increase to the Value Added Tax (VAT) rate. This move, designed to address economic challenges and fund key government initiatives, will undoubtedly add pressure to small businesses, especially those who are already struggling with cash flow. However, it’s worth understanding who pays VAT, how VAT contributes to total tax revenue, and how you as a small business can manage this change.