Call for one VAT: Fiscal Review Committee

Fiscal Review Committee chair Richard Naidu and committee member Kirti Patel who voiced her objection to the removal of zero-rating of VAT on basic food items. Picture SUPPLIED

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.

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