Finance Minister Enoch Godongwana delivered South Africa's much-anticipated Budget Speech 💰

We are pleased to provide you with an update on South Africa's Value-Added Tax (VAT) developments, along with some intriguing historical insights:

Current VAT Rate: As of March 2025, the VAT rate remains at 15%.
Updated VAT Rate: Government has proposed a gradual VAT increase:

• 15.5% effective 1 May 2025
• 16% in 2026

Historical Tidbit: South Africa's VAT system replaced the General Sales Tax (GST) on 30 September 1991, initially set at 10%. Prior to VAT, the GST rate had reached 12% in 1985.

We encourage you to review your financial plans in light of these updates. Our team is available to assist with tailored strategies to navigate these changes.

I look forward to talking with you again soon.

Shane Thom, CFP^® GTP(SA)™
Managing Partner // Key Individual // Integrated Wealthcare Advisor // Personal Portfolio Manager (PPM)

🏆🏆🏆🏆