South Africa's National Treasury has published a media statement from the Ministry of Finance announcing the introduction of the Rates and Monetary Amounts and the Amendment of Revenue Laws Bill (Rates Bill). Among other things, the Rates Bill provides for the reversal of the VAT increase announced as part of the 2025 Budget so that the standard rate of 15% is maintained from 1 May 2025 instead of being increased to 15.5%. --- MEDIA STATEMENT ON REVERSAL OF VAT INCREASE The Minister of Finance will shortly introduce the Rates and Monetary Amounts and the Amendment of Revenue Laws Bill (Rates...