South Africa raises VAT to 15% April 2018

South Africa today announced an increase in its VAT rate from 14% to 15% on 1 April 2018. This is the first increase in 25 years since the ending of apartheid in the country.

Growth in the country has been slowing for a number of years, and the government deficit opening up to 4.3% in 2017. Most of the international credit agencies have recently downgraded South Africa following political changes.

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