Call for one VAT: Fiscal Review Committee
9 June, 2023, 10:00 am
THE Coalition Government appointed Fiscal Review Committee has recommended that value added tax (VAT) be removed from the list of essential items and that a single VAT between 12.5 per cent and 15 per cent be considered by the Government.
In their report released yesterday, the committee states this new VAT regime will bring $370 to $630 million into the national treasury.
The committee states it has endeavoured to reach consensus on all issues.
“However, one member, Ms Kirti Patel — the 2022 General Election candidate for NFP — has requested that her dissent be recorded on the first recommendation on zero-rating of VAT on basic food items be removed,” states the report.