What is VAT?

CityPress - - Business -

South Africa in­tro­duced value-added tax (VAT) in 1991 at 10% and hiked it to 14% in 1994.

Be­fore then, there had been a gen­eral sales tax that tried to achieve more or less the same thing VAT does – to tax all do­mes­tic con­sump­tion.

Cur­rently, zero-rated items are brown bread, maize meal, samp, mealie rice, dried mealies, dried beans, lentils, tinned pilchards, milk, cul­tured milk, milk pow­der, dairy pow­der blend, rice, veg­eta­bles, fruit, veg­etable oil, brown wheat meal, eggs and paraf­fin.

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.