WATCH: VAT hike will shatter the poor, warns expert

[vc_row][vc_column width=”2/3″][vc_column_text]Johannesburg – A value-added tax (VAT) increase will have a devastating effect on the whole country, warned Debt Rescue CEO Neil Roets. South Africa’s VAT rate, which is somewhat lower than the global average, was introduced in 1991 at 10%. It was hiked to 14% in 1994. Currently, zero-rated items are brown bread, maize […]