Insurance costs to rise as South Africa plans VAT increase

March 19, 2025 By: Alfred0 comments

<p><img src=”https://biz-file.com/c/2503/768175-240×135.jpg?5″ width=”240″ height=”135″ alt=”Source: Supplied. Charles Nortje, managing director of Old Mutual Insure.” align=”left”><br><span >Source: Supplied. Charles Nortje, managing director of Old Mutual Insure.&lt;/span><p>In the wake of the budget speech, in which the Minister of Finance tabled a proposed 0.5% hike in VAT to 15.5% this year—followed by a further 0.5% increase next year to 16%—the insurance industry and its consumers are bracing for significant financial implications.</p><br> <a href=”https://www.bizcommunity.com/article/insurance-costs-to-rise-as-south-africa-plans-vat-increase-036675a”>Read more…</a> | <a href=”https://www.bizcommunity.com/Request/SendToEmailRedirect.aspx?ct=1&ci=256257″>Email</a></p><div style=”clear:left”></div>