JOHANNESBURG - A proposed increase in Value-added-Tax which is basically the sales tax we pay on most goods in South Africa has derailed the budget speech.
The Finance Minister, Enoch Godongwana, had proposed a VAT increase of two percent, moving from 15% to 17%.
The DA had warned it would not vote for such a budget in parliament.
The CEO of the South Africa Institute of Taxation, Keith Engel discussed this with eNCA.