Plan to scrap VAT concessions for farmers
Author: Amanda Visser
Proposals by the Treasury to scrap the value added tax (VAT) concession of a zero rating on goods and services bought by farmers for production purposes will raise input costs 14%.
The sector spends R100bn a year on goods such as fodder‚ stock and fertiliser and if the VAT concession is scrapped‚ input costs could rise by R14bn a year.
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