In July 2013, South African tax expert and Rhodes University Professor, Matthew Lester was selected to be a member of the Tax Review Committee. The Davis Tax Commission (DTC) is chaired by Judge Dennis Davis.
The terms of reference for the Tax Review Committee are to inquire into the role of the tax system in the promotion of inclusive economic growth, employment creation, development and fiscal sustainability.
Since July 2013, Prof Lester has been working on the tax package and problems facing the SME sector of South Africa. The first report was submitted to the Minister of Finance in January 2014 . A summary of the report was included in the 2014/15 Budget review released on 26 February. The report will be released for piblic comment shortly.
During 2014, Prof Lester will be working on the DTC report addressing the problems within the estate duty system in South Africa.
The DTC will be releasing reports this year covering Base Erosion and Profit Shifting ‘BEPS’, the tax mix in RSA, VAT, and Mining Estate Duty.