DTC calls for submissions for new subsectors
The Davis Tax Committee (DTC) on Tuesday called on stakeholders to comment on certain provisions within its three new subcommittees.
The new subcommittees would deal with further specifics in the terms of reference of the committee for mining, value-added tax (VAT) and estate duty.
The committee already had small business and macroanalysis subcommittees, for which interim reports have already been submitted to the Finance Minister, and a base erosion and profit shifting subcommittee, for which an interim report would be submitted by the end of June.
Now, the DTC was calling on the public for its input on whether the current mining tax regiment was appropriate, taking account of the agreement between government, labour and business to ensure that the mining sector contributed to growth and job creation, and the challenges facing the mining sector.
Further, the DTC called on stakeholders to comment on the efficiency and equity of VAT, with a focus on the advisability and effectiveness of dual rates, zero rating and exemptions.
With regard to the estate duty, the DTC sought views on the progressivity of the tax system and the role and continued relevance of estate duty to support a more equitable and progressive tax system, with consideration of the interactions between capital gains tax and the estate duty.
Submissions for the mining and estate duty subsectors were due by July 31, while submissions for the VAT subsector were due by July 15.
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