{"id":235185,"date":"2018-03-30T09:35:10","date_gmt":"2018-03-30T07:35:10","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=235185"},"modified":"2018-03-30T09:35:10","modified_gmt":"2018-03-30T07:35:10","slug":"treasury-to-review-and-expand-list-of-items-zero-rated-for-vat","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/finance\/235185\/treasury-to-review-and-expand-list-of-items-zero-rated-for-vat\/","title":{"rendered":"Treasury to review and expand list of items zero-rated for VAT"},"content":{"rendered":"<p>National Treasury has announced that it will set up a panel of experts to consider and review the country&#8217;s current list of items that have been zero-rated for VAT.<\/p>\n<p>South Africa&#8217;s VAT rate will increase from 14% to 15% on 1 April, and this has raised concerns on how this will impact the most vulnerable in the country.<\/p>\n<p>To ensure the VAT hike is not regressive, the current list of 19 items will remain zero-rated, Treasury said, with the panel of experts considering expanding the list.<\/p>\n<p>&#8220;The panel will also consider how specific expenditure programmes can be improves to better target poor and low-income households (eg National School Nutrition Programme, food stamps, etc),&#8221; it said.<\/p>\n<p>The panel is expected to deliver its first report by 30 June 2018, in time to be included in draft regulations being compiled in July 2018.<\/p>\n<p>The current list of zero-rated food items includes:<\/p>\n<ul>\n<li>Brown bread<\/li>\n<li>Maize meal<\/li>\n<li>Samp<\/li>\n<li>Mielie rice<\/li>\n<li>Dried mielies<\/li>\n<li>Dried beans<\/li>\n<li>Lentils<\/li>\n<li>Pilchards in tins<\/li>\n<li>Milk powder<\/li>\n<li>Dairy powder blend<\/li>\n<li>Rice<\/li>\n<li>Vegetables<\/li>\n<li>Fruit<\/li>\n<li>Vegetable oil<\/li>\n<li>Milk<\/li>\n<li>Cultured milk<\/li>\n<li>Brown wheaten meal<\/li>\n<li>Eggs<\/li>\n<li>Edible legumes<\/li>\n<\/ul>\n<p>Other goods and services that are currently zero-rated for VAT include illuminating paraffin and goods which are subject to the fuel levy (petrol and diesel), and well as \u00a0certain government grants and education services.<\/p>\n<hr \/>\n<p><strong>Read:\u00a0<a href=\"https:\/\/businesstech.co.za\/news\/finance\/232611\/this-simple-example-shows-how-much-the-vat-increase-could-knock-off-your-retirement\/\" rel=\"bookmark\">This simple example shows how much the VAT hike could knock off your retirement<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>National Treasury has announced that it will set up a panel of experts to consider and review the country&#8217;s current list of items that have been zero-rated for VAT.<\/p>\n","protected":false},"author":10,"featured_media":224458,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11121],"tags":[],"class_list":["post-235185","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/235185","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=235185"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/235185\/revisions"}],"predecessor-version":[{"id":235187,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/235185\/revisions\/235187"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/224458"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=235185"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=235185"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=235185"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}