The Tax Review Committee today released the second update of the work undertaken so far.
The Committee is looking at having all investors in mining and small to medium enterprises included in the new national tax regime.
These are among other business entities that are currently exempted from paying tax.
Since the first update in March this year, the Committee has actively engaged in forums and collected views on the new tax regime to be introduced in parliament and incorporated into the 2015 national budget.
Chairman Sir Nagora Bogan commended his team, saying progress is good and the first issues paper is expected to be released in September.
Sir Nagora said there were so many issues raised in various forums and consultation meetings with stakeholders, including the performance of concerned authorities such as IRC and IPA, tax exemptions on mining investors and the SME sector.
The Committee is now working on the submissions made to them by various stakeholders. Sir Nagora said the Committee is progressing well with the analysis of the submissions.
He said the issues paper, scheduled to be published in September, is structured to inform, along with generating debate and objective discussions before the final national tax regime is drafted and presented to the national government for the 2015 national budget.
The Committee has encouraged the general public, stakeholders and students to visit their website and update themselves on the work of the Committee.
They also said that they need more feedback from them prior to publishing the issues paper in September.
https://youtube.com/watch?v=Kxs6AZb_mjc%3Ffeature%3Doembed%26wmode%3Dopaque%26showinfo%3D0%26showsearch%3D0%26rel%3D0
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