South Africa News

2019 Budget Speech: Will you pay more tax?

With a strained purse and parastatals needing bailouts, where will the government get the money it needs?

Finance Minister Tito Mboweni is set to deliver the budget speech on Wednesday.

Cash-strapped South Africans are hoping Finance Minister Tito Mboweni won’t be increasing taxes this year.
Last year, Value Added Tax was hiked for the first time in years, up to 15 percent, further squeezing wallets.

Tito Mboweni

This year, it’s expected consumers will once again be paying more for their alcohol and cigarettes.

South Africans also need to be prepared for a possible increase in the fuel levy, which means a petrol price hike.

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Source: eNCA