Faizel Patel, Radio Islam News – 02-03-2018
Vodacom has announced it will be adjusting subscriptions on customers’ accounts after Value Added Tax (Vat) was increased during the budget speech in February.
Finance Minister Malusi Gigaba has increased the Value Added Tax (Vat) by one percentage point from 14% to 15% as part of what he called a “tough but hopeful” Budget.
This is the first time South Africans will be paying a higher rate of Vat for the first time since in 25 years.
In a text message, Vodacom says: “The National Treasury announced an increase in Value Added Tax (VAT) from 14% to 15% effective 1 April 2018. There will therefore be an adjustment to your subscription as our services are subject to VAT.”
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