ANC COMMITTEE MEMBERS
Sceptical ANC MPs put a sell-by date on tax hike
ANC members of Parliament’s finance committee are not in favour of the one percentage point hike in the value-added tax (VAT) rate continuing beyond April 2019. Head of the ANC study group in the committee Thandi Tobias said on Wednesday the ANC recognised the need to fill the revenue shortfall of R48bn in the current year but did not support the continuation of the increase longer than one year. She recognised that there was little that could be done in the current financial year to reverse it. The one percentage increase in VAT will raise about R23bn. “As the ANC going forward we will not advocate for another imposition of VAT from next year ... we are going to insist on not implementing it.” Committee chairman Yunus Carrim has also expressed grave concern about the impact of the hike on the poor. The finance committee on Wednesday held a public hearing on the draft Rates and Monetary Amounts and Amendment of Revenue Laws Bill, which includes a provision on the VAT increase. Civil...
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