Government unveils revised Tax Policy proposals, adjusting revenue forecasts and VAT increases at the second tabling of the National Budget
In a significant shift from earlier projections, on Wednesday, 12 March 2025, the South African government announced revised tax policy proposals aimed at raising an estimated R28 billion in additional revenue for the 2025/26 fiscal year and R14.5 billion in 2026/27. This contrasts with the original forecast of R58 billion, as outlined in Version 1 of the National Budget, which failed to be tabled on 19 February 2025.
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