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South Africa raises VAT to 15% April 2018

  • VAT
  • 21 February 2018 | Richard Asquith

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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VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which this year won International Tax Review's Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.