No Major Tax Hikes … Budget 2024
Finance Minister Enoch Godongwana did not announce any major tax increases.
Taxation:
- No major changes occurred, VAT and income taxes were not hiked.
- No increase in the fuel levy and Road Accident Fund Levy.
- There was the normal rise in taxes for certain types of alcohol and tobacco products.
The two-pot system for retirement funds to launch in September 2024 (click here to see article)
Government reduced it real GDP growth forecast for 2023 to 0.65%.
2024 growth estimates increased to 1.3% from 1%.