Parliamentary committee proposes tax reduction in basic commodities

Maize flour, milk and bread might be exempted from tax increases as proposed by Treasury in the Finance Bill if parliament adopts the National Assembly Finance Committee report. 

The committee says the three are basic commodities and any tax increment will cause inflation and reduce citizen’s purchasing power. 

This is among a raft of tax reduction measures that the parliamentary committee is seeking to scrap in the tax bill amendments.

In his budget speech this year, Treasury Cabinet…