JOHANNESBURG - South Africa's Treasury on Thursday invited proposals on items on which no tax should be levied, to mitigate the impact of a recent increase in value added tax on poor and low-income households.
In his budget in February, former finance minister Malusi Gigaba said VAT would go up by a percentage point to 15 percent from April 1, the first increase in 25 years, to help boost revenue.
On 25 April 2018, his successor Nhlanhla Nene published the terms of reference for an independent panel of experts set up review the current list of zero-rated items.
"The panel is mandated to take public submissions, convene hearings, and engage with different stakeholders from civil society organisations, organised labour and business, and all other interested parties," the National Treasury said on Thursday.
" As part of carrying out its mandate, the panel would like to invite all interested stakeholders to make written submissions for consideration. The details for further engagements and hearings will be communicated in due course. "
- African News Agency (ANA)