Davis Tax Committee report released for public comment

On 5 June 2015, the Davis Tax committee released its first interim report for public comment. The committee was formed 2013 in order to “assess South Africa’s tax policy framework and its role in supporting the objectives of inclusive growth, employment, development and fiscal sustainability.”

The report is a macro analysis of the tax policy framework currently in operation within South Africa. It aims to articulate a set of overarching principles to guide an assessment of the current South African tax system so as to identify the needs for reforms and to make relevant recommendations in this respect.

The report seems to suggest that an increase in Value Added Tax would be more probable than increases in other forms of taxation. Sceptics of the policy have cautioned that any such increase will likely stem economic growth.

The closing date for comment is 31 August 2015.

See full article at http://www.bdlive.co.za/economy/2015/06/08/davis-committee-prefers-less-severe-vat-hikes