It has been a year of headlines, court cases, legislative amendments and other interesting events for the VAT industry. We reflect on four VAT trends during 2016 and our expectations for 2017.
“Government intends to raise an additional R13 billion in taxes for during the 2017/2018 tax year.”
1. The never-ending speculation regarding a VAT increase
Every year there is renewed speculation that the VAT rate will increase. But, as seen in previous years, the government kept the rate at 14 per cent for...