💨 Abstract

A 0.5% VAT increase in South Africa will strain an already unstable economy, hitting ordinary consumers and small businesses hardest. VAT is a tax on spending, and even a minor increase will exacerbate high food prices, rising fuel costs, and stagnant wages. Lower consumer spending will slow down economic growth, affecting industries like retail, tourism, and hospitality.

Courtesy: www.thesouthafrican.com

Summarized by Einstein Beta 🤖