In a significant policy shift, South Africa's Finance Minister Enoch Godongwana announced the withdrawal of the proposed Value-Added Tax (VAT) increase. Initially, the government planned to raise VAT by 0.5 percentage points in 2025 and another 0.5 in 2026, aiming…

Under the VAT Act, businesses meeting certain turnover thresholds are required to register for VAT and charge it on applicable goods and services. However, circumstances change, and businesses may find themselves needing to deregister their VAT registration for various reasons…