From The (New) Minister

List of zero-rated VAT items extended

Value-added tax (VAT) on white bread flour, white cake flour and sanitary pads will be zero-rated from April 1 next year, Finance Minister Tito Mboweni announced on Wednesday.

“The revenue loss associated with zero-rating these items is estimated at R1.2 billion. However, zero-rating these products targets low-income households and restores the dignity of our people,” Mboweni said while tabling the medium-term budget policy statement in Parliament.

The minister’s announcement followed work done by a panel of experts, appointed by Mboweni’s predecessor, who were tasked with making recommendations to National Treasury on whether the list of zero-rated items should be expanded. The panel, in a report released in August, recommended that South Africans be exempt from paying VAT on white bread, white bread flour, cake flour, sanitary products, nappies and school uniforms.

 

Patience Is A Virtue…….

  • Patience: what you have when there are too many witnesses
  • Everything comes to him who waits… except a loaned book.
  • Before you marry a person, you should first make them use a computer with slow internet service to see who they really are.
  • I am extraordinarily patient, provided I get my own way in the end.
  • I need to develop some patience — immediately.
  • Patience: The quality you admire in the driver behind you but can’t stand in the driver who’s in front of you.
  • Patience: A minor form of despair, disguised as a virtue.
  • I am patient with stupidity but not with those who are proud of it.