With the aim of “keeping money in the pockets of South Africans”, Finance Minister Enoch Godongwana provided some hope to taxpayers during his maiden Budget speech. Earlier today, the Minister proposed no significant tax increases to the major revenue-generating categories, including personal income tax and VAT for the 2022/2023 tax year. This signals continuity from his predecessor’s Budget in 2021 and reinforces government’s commitment to stimulating economic growth.
