Treasury crunching numbers in case zero VAT list widens revenue gap

2018-08-17 06:45

If there is a revenue gap caused by additional zero-rated VAT items, then Treasury will either have to adjust expenditure, or raise taxes in the mid-term budget, Parliament has heard.

Cosatu: Further VAT exemptions may not benefit the poor

2018-08-14 06:45

Even if government adds to the list of zero-rated VAT items, there is still the challenge of ensuring that benefits of the VAT exemption flow to the poor, Cosatu has said.

These are some of the products a panel considered – but rejected – making VAT free, including mango achar and life-saving medicines

2018-08-11 07:26

The final list of recommended zero-rated products is estimated to cost the National Treasury R4 billion in lost revenue.

Better collection means a better outlook for taxes

2018-08-05 09:48

Personal tax revenue growth, which is moving in the right direction, and higher VAT collection could mean lower hikes.

Cabinet to discuss VAT, fuel hike report

2018-07-31 15:03

The economic cluster ministers tasked with considering a package of measures to alleviate VAT and fuel hikes on consumers have submitted their initial report to President Cyril Ramaphosa.

SARS VAT tax collections surge ahead of forecast

2018-07-08 11:34

The effects of the 1% hike in the rate of VAT, effective on April 1, in the first two months of the 2018/19 tax year was evident, with tax collections for the period up significantly from a year ago.

VAT, fuel price hikes: Ramaphosa gives ministers 2 weeks for plan to ease consumer pain

2018-07-06 12:28

Government will in two weeks’ time announce a package of economic measures to cushion the public from the crippling effects of high fuel price hikes and the VAT increase.

Slow start to SARS tax collections

2018-06-03 06:07

The SA Revenue Service started the first month of the 2019 tax year on a pedestrian note.

INFOGRAPHIC: Twelve products costing you over 6% more than a year ago

2018-05-24 11:16

Statistics South Africa has released the April Consumer Price Inflation index, showing that costs increased 4.5% year-on-year. Here's what you’re paying more – and less – for.

Petrol, toll fees to add to consumer debt burden

2018-04-30 05:45

The spike in petrol and toll feels in May will weigh heavily on indebted consumers, says an expert.

 

Shoprite on a mission to help cash-strapped consumers with thousands of under-R5 buys

2018-08-15 18:08

The Shoprite Group says it is subsidising staple products to help counteract the strain on consumers' pockets.

‘Cut VAT on bread, pads, nappies'

2018-08-12 06:00

Expert panel calls for zero VAT on several items, but stops short of a massive chicken-tax break to benefit the poor.

Expert panel recommends white bread, school uniforms be zero VAT rated

2018-08-10 15:24

National Treasury has released a VAT report on its website, after Minister of Finance Nhlanhla Nene granted an expert panel a one week extension.

We need more time for our report, VAT review panel tells Nene

2018-08-01 16:21

The panel set up to investigate the impact of the 1 percentage point VAT increase has asked Finance Minister Nhlanhla Nene for a short extension on the deadline to file its report.

Fuel hike, rand weakness to drive up June inflation - economist

2018-07-16 09:51

Economists expect June inflation to be higher than May, but the SA Reserve Bank is likely to keep interest rates unchanged.

Economic ministers mull over fuel price issue

2018-07-07 09:00

Cabinet's economic cluster is considering allowing the state's expert panel on zero-rated VAT items to expand the scope of its work to include reviewing the recent fuel price hikes.

Slow VAT collections set to improve

2018-06-10 11:40

Acting Sars commissioner Mark Kingon says the level of VAT collections is set to improve as the 2018/19 tax year proceeds because the hike in the rate of VAT has not yet reflected.

Treasury's VAT panel gets better chance to affect budget

2018-05-29 20:14

National Treasury has revised the terms of reference for its expert panel which is reviewing the list of zero-rated items to soften the effect of the VAT hike on poor and low-income households.

Treasury vows to protect poorest from VAT rate hike, cites zero-rated items

2018-05-22 12:24

Minister of Finance Nhlanhla Nene says National Treasury will protect South Africa’s poorest citizens from the impact of the increase in the value added tax rate to 15%.

Gupta-linked R100m VAT scandal: We need answers from Nene - DA

2018-04-29 17:20

The DA is seeking to test the legal extent of the Tax Act dealing with disclosure limitations following a report that the Guptas have been implicated in a R100m VAT scam.

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