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DTC releases first interim report on VAT

Finance Minister Nhlanhla Nene

Finance Minister Nhlanhla Nene

Photo by Government ZA

7th July 2015

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

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Following its submission to Finance Minister Nhlanhla Nene in December, the Davis Tax Committee (DTC) on Tuesday publicly released its first interim report on value-added tax (VAT) for public comment.

Interested parties had until September 30 to comment on the report that the VAT subcommittee had widely consulted on.

About 23 submissions from the public were taken into account when producing the report.

The VAT report covered taxpayer compliance and the tax gap; structural features, such as zero-rating, dual rates, exemptions, place of supply rules and e-commerce; and the macroeconomic impact of raising VAT.

Edited by Creamer Media Reporter

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