Nene names strong team to decide zero-rated VAT items
Prof Ingrid Woolard will head the nine-person panel to review which products South Africans will not pay VAT on
Academic Prof Ingrid Woolard will head a nine-person panel to review which products South Africans will not pay VAT on. In a statement issued on Tuesday evening‚ Finance Minister Nhlanhla Nene said the panel would "review the current list of VAT zero-rated items and consider the most effective way to mitigate the impact of the increase in the VAT rate on poor and low-income households". A VAT increase from 14% to 15% took effect on April 1. "The review will consider expanding the list of basic items that are VAT zero-rated‚ and consider how specific expenditure programmes can be improved to better target poor and low-income households. While the focus of the panel will be on food items to be included for zero-rating‚ it will also identify any other items that should be considered to achieve the policy intention of providing relief for poor and low-income households‚" the statement read. Woolard is the current dean of the faculty of commerce at the University of Cape Town (UCT), a ...
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