JOHANNESBURG - Finance Minister Enoch Godongwana has gazetted the Bill that will reverse the contentious 0.5 percentage point VAT hike.
It's called the Rates and Monetary Amounts and Amendment of Revenue Laws Bill.
The Minister's late-night about turn means that VAT stays at 15 percent.
The new bill will still face Parliamentary review, including committee scrutiny and voting, before the President can make it law.
Godongwana now hopes to use other measures to address the R74-billion revenue gap.