PARLIAMENT – An independent panel of experts appointed by National Treasury to review goods zero-rated for value-added tax (VAT) will submit its first report to Finance Minister Nhlanhla Nene by the end of next month, MPs heard on Tuesday.
“The panel is expected to submit an initial set of proposals to me by the end of June this year,” Nene said while delivering his budget vote speech in Parliament.
“We will continue to engage all relevant stakeholders to ensure that the VAT increase will not have an adverse impact on the poor and indigent households.”
In April, VAT increased from 14 to 15 percent, causing an outcry from unions and civil society organisations, complaining it would have a negative impact on South Africa’s poor.
– African News Agency (ANA)