posted 13 Mar 2018, 23:51 by Melvin Hoods
VAT has always been a sensitive topic in the South African economy as it is something that really affects the rich and the poor alike. After much debate and deliberation, government decided that it needs to increase the VAT rate by 1% in order to meet the revenue shortfall announced in the medium-term budget. But how will this affect the consumer? FAnews recently received a press release from Lion of Africa Insurance Company in which Yusuf Bodiat, Acting CFO, discussed this topic in detail.