South Africa's Minister of Finance has published a draft amendment, which if enacted, would change South Africa's VAT rate back to 14%. This proposed draft amendment, which is open for public comment, would revert the rate back to 14% and currently has a retro-active effective date to April 1, 2018. The proposed amendment comes after the recent increase in the VAT rate to 15%, which was effective April 1, 2018. The draft amendment can be seen here, and the open public comment period lasts until August 16, 2018.
South Africa Proposes Amendment to Change VAT Rate
Sovos
July 27, 2018
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