The Treasury has announced the VAT review panel that will be assessing which items should be zero-listed. This is all the info you need.
A little while ago we shared the happy news that a review of the VAT-free list would be taking place. We even hosted a very successful poll to find out which items you would like to see become VAT-free.
While many voted for multiple items, it was very clear that basic medicines and education-related goods were top priorities amongst our readers.
The Treasury has just announce that the panel has been selected and will begin to make their assessments of what should be included on the new list.
Remember, there are currently 19 items on the list, those will remain unchanged. It is the new things that we are waiting to hear about.
South African Finance Minister Nhlanhla Nene has announced that Stellenbosch University’s Professor Ingrid Woolard will chair the nine-member independent panel of experts.
Ingrid Woolard highly qualified for the job as she 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
The panel will take a variety of things into consideration before submitting their initial report at the end of June. They will consider public comments, convene hearings, and will engage with different stakeholders from civil society organisations, organised labour and business.
They will then deliver an initial report with recommendations to the Davis Tax Committee and the minister by 30 June 2018.
Treasury has said the review will consider expanding the list of basic items that are VAT zero-rated. They will then consider how to implement specific expenditure programmes to assist poor and low-income households.
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