Finance Minister Enoch Godongwana’s announcement of a VAT increase to 16% over the next two years has raised serious concerns for South African households.
In an exclusive interview on eNCA, Annaline van der Poel, COO of Debt Rescue, explains the real impact of this hike. She points out that while 0.5% may not sound like much, it will affect almost everything we buy, except for a handful of VAT-exempt goods, making daily expenses even more unaffordable.
South Africans are already grappling with high food prices, rising electricity costs, and an ongoing cost-of-living crisis. This VAT increase will only add to the pressure, forcing consumers to rethink their budgets and spending habits.
Watch the full interview now and get expert advice from Debt Rescue’s Annaline van der Poel!
