South Africa’s ANC Is Said to Withdraw Plan to Raise VAT by 0.5%

South Africa’s biggest political party is set to back down from a plan to increase value-added tax after other parties indicated they won’t support it, the Sunday Times reported.

It has become clear from talks with parties represented in parliament this week that they would not support the plan to include a 0.5 percentage point increase to VAT in the nation’s budget, the Johannesburg-based newspaper reported, citing a senior leader of the African National Congress.

The ANC this week held marathon talks with parties both within and outside the government of national unity in efforts to resolve an ongoing dispute ...