Maths matter!

VAT did not increase by 1 percent.

Let’s get this right: VAT increased by 1 percentage POINT from 14% to 15%,

This is an increase of 7.1% in the VAT RATE.

The impact is an increase of 0.877% on what you PAY (from R114 to R115 on something that costs R100 excl. VAT)

#mathsmatter #Budget2018

— From Nerina Read Visser