A panel of experts will review and consider expanding the list of 19 basic food items that are VAT zero-rated, in light of the recent VAT hike of 14% to 15% that took effect on 1 April. Finance Minister Nhlanhla Nene announced that Stellenbosch University’s Professor Ingrid Woolard will chair the nine-member independent panel of experts that will review the current list of Value-Added Tax (VAT) zero-rated items.
Woolard is currently dean of Economic and Management Sciences at Stellenbosch University. The other members are: Ayabonga Cawe, Professor Ada Jansen, Dr. Thabi Leoka, Dr. Neva Makgetla, Lynn Moeng, Cecil Morden, Prenesh Ramphal and Professor Imraan Valodia.
National Treasury said the panel’s mandate is to 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. Click here to read more. –Citizen.co.za