There could be a problem with adding new items to the zero-rated VAT basket

[BusinessTech]

There could be a problem with adding new items to the zero-rated VAT basket

The recommendations put forward by the review panel on the zero-rating of certain items for Value-Added Tax (VAT), may be challenging for Treasury to enforce.

 

[konfab]

“It is true that there needs to be some form protein on the zero-rated list. However, the panel rightfully argued that since poultry has such a wide user base in South Africa, zero-rating it would cost the country at least R3 billion in tax revenue. In comparison, all of the other items on the zero-rated list combined account for R4 billion reduction in revenue.”

The South African government is committed to spending R59 billion on financial bailouts for embattled state-owned enterprises (SOE).

https://www.thesouthafrican.com/south-african-government-r59-billion-bailouts-for-soe/

Less revenue for the thieves in government would be a blessing IMO. They have proved time and time again that they do not know how to manage that money.

 

[TrueSeeker]

I'm actually just surprised that amounts under R10bn or so even matter to the okes in our government. I mean what's less than that going to do for their lifestyles? Nothing.