PwC wish list for 2025 Budget Speech
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GUEST – Xhanti Payi, PwC South Africa Senior Economist
PwC says next week's budget is likely to see Finance Minister Enoch Godongwana announce disappointing revenue collection numbers, largely due to a poor value-added tax (VAT) take in December.
National Treasury originally expected total tax revenues of about R1.86 trillion for 2024/25 when it delivered its budget in early 2024. However, by the time the medium-term budget policy statement (MTBPS) was delivered in October, Treasury was forced to revise that figure downwards by some R22 billion to about R1.84 trillion, thanks mostly to decreased personal income tax, VAT, and fuel levies.
PwC says next week's budget is likely to see Finance Minister Enoch Godongwana announce disappointing revenue collection numbers, largely due to a poor value-added tax (VAT) take in December.
National Treasury originally expected total tax revenues of about R1.86 trillion for 2024/25 when it delivered its budget in early 2024. However, by the time the medium-term budget policy statement (MTBPS) was delivered in October, Treasury was forced to revise that figure downwards by some R22 billion to about R1.84 trillion, thanks mostly to decreased personal income tax, VAT, and fuel levies.
