The proposed VAT increase of 0.5% in 2025 and another 0.5% in 2026 is the big news from Budget Speech 2025. The increase is strongly opposed by political parties within and outside the GNU – but it is only one way in which individual and corporate taxpayers will bear the brunt of another substantial Budget shortfall.    

Here’s a brief overview of how the tabled Budget 2025 proposals will impact individuals and businesses (if they come into effect). Professional tax advice has never been more important.