💨 Abstract

South Africa's government has canceled a proposed 0.5% increase on value-added tax (VAT), following opposition from political parties and criticism as anti-poor. The decision was made after consultations and parliamentary committee recommendations, as the government aimed to increase tax revenues. The Democratic Alliance, a major opposition party, opposed the VAT increase and challenged it in court. The government's estimated revenue loss from the cancellation is around $4 billion.

Courtesy: wtop.com

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