Minister Godongwana gazettes Bill to reverse the contentious VAT hike [SOUND]

# Finance minister Enoch Godongwana has officially gazetted the Rates and Monetary Amounts and Amendment of Revenue Laws Bill. The amended legislation, which reverses the 0.5-percent value-added tax hike introduced in the budget in March, will still face Parliamentary review. The scrapping of the VAT hike leaves a 75-billion-rand expenditure hole in the fiscus. Godongwana told the SABC that in making this decision, he followed Parliament’s request to engage political parties: