The 0.5% VAT Increase: A Double-Edged Sword for South African SMEs
The South African government recently increased the Value-Added Tax (VAT) rate by 0.5%, bringing it to 15.5%. While this move aims to bolster government revenue and fund essential services, it presents both challenges and opportunities for South African Small and Medium-sized Enterprises (SMEs). Impact on SMEs The VAT increase directly affects SMEs by increasing […]
How South Africa Can Fill a R191bn Budget Hole and The Impact on SMEs
South Africa faces a critical budget shortfall of R191 billion, and the government must find ways to bridge this gap without stifling economic growth. Finance Minister Enoch Godongwana is exploring various solutions, including tax hikes, spending cuts, and increased borrowing. While these budget measures are necessary to stabilise the national economy, they will have a […]
