By Karin Strohecker and Colleen Goko WASHINGTON (Reuters) -South African Finance Minister Enoch Godongwana said on Thursday ...

With National Treasury announcing the reversal of the contentious 0.5 percentage points VAT hike on Thursday (24 April), ...

The reversal of the planned VAT increase and expansion of zero-rated food items, though easing pressure on consumers, has ...

The Democratic Alliance claimed victory for the reversal of the VAT increase, but other political parties are not impressed ...

The Caucus of the African National Congress (ANC) in Parliament welcomes the announcement by the Minister of Finance to stop ...

South African Finance Minister Enoch Godongwana said he sees no reason to resign following his U-turn on a proposed tax ...

National Treasury announced that government had backtracked on its plan to raise VAT by 0.5% next month but also warned that tough spending decisions lie ahead to fill a R75 billion budget gap.

Scrapping the VAT increase will slightly affect inflation, but government will have to find the money elsewhere to balance the budget.

Treasury has backtracked on its fiscal framework due to political backlash. The DA and EFF took to the Western Cape High Court earlier this week demanding the proposed VAT hike to be scrapped. The DA ...

The South African rand was stable on Thursday after the finance ministry said it was withdrawing a contentious increase in ...

The South African government has canceled a proposed tax increase that has threatened to collapse the unity government after a pushback from various political parties ...