Two Stellenbosch professors appointed to VAT panel

Posted by Johan Fourie on 2018-05-03

The new Dean of the Faculty of Economic and Management Sciences at Stellenbosch University and professor in the Department of Economics, Prof Ingrid Woolard, and professor Ada Jansen, also of the Department, have been appointed as members of the panel that will review the current list of value-added tax (VAT) zero-rated items.

Finance Minister Nhlanhla Nene announced that Stellenbosch University's Professor Ingrid Woolard will chair the nine-member independent panel of experts that will review the current list of Value-Added Tax (VAT) zero-rated items.

Woolard 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. 

National Treasury said that the panel's mandate is to review the current list of VAT-zero rated items and consider the most effective way to mitigate the impact of the increase in the VAT rate on poor and low-income households.

South Africa's VAT system includes 19 basic food items that are zero-rated, including dried beans, samp, maize meal, mealie rice, vegetables, fruits, milk and rice. 

Treasury said the review will consider expanding the list of basic items that are VAT zero-rated, and consider how specific expenditure programmes can be improved to better target poor and low-income households.

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BER Weekly

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In the two weeks since the previous weekly release, the global newsflow on COVID-19 has seesawed. There were positive headlines as vaccine rollouts in many countries (excluding SA unfortunately) continued, resulting in a brighter outlook for global growth. However, this was countered by growing concerns about the near-term impact of renewed lockdowns...

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