South Africa raises VAT to 15% April 2018
- Feb 20, 2018 | Richard Asquith
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.