CLAIM BACK YOUR 1% VAT

MBABANE – Locals who buy their goods and services in South Africa will claim back the one per cent difference in value added Tax (VAT).

Principal Secretary in the Ministry of Finance, Bheki Bhembe said this was a result of the increment of VAT in South Africa, which shall come into effect tomorrow.

Then South African Finance Minister, Melusi Gigaba, in his budget speech last month, informed South Africans that VAT would increase by one per cent to 15 per cent.
He said this increment would be introduced on April 1, 2018.

increment

Given that the country imports most of goods in South Africa, entrepreneurs would not feel the effects of the increment in the first few weeks as they would be able to claim their money back.
This, according to Bhembe, would be permitted by the fact that the country has no law allowing the implementation of a 15 per cent VAT.

“The matter is pending before Parliament; so, for now the citizenry would have every right to claim back their money as there will be no law allowing us to charge the inflated VAT.”
He was also enthusiastic that the matter would be put to bed soon as the holidays were over.

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