IMF roped in for planned tax reforms

source: Mmegi
MBONGENI MGUNI
Staff Writer

The Ministry of Finance and Development Planning has engaged a consultant from the International Monetary Fund (IMF) as it hammers out contentious reforms to the Income Tax Act, BusinessWeek has learnt.

It is understood the IMF consultant, engaged last week, has submitted a report on a draft prepared by the Ministry and containing the proposed amendments to the Income Tax Act.

The amendments involve plans to discard the current two-tier system and replace it with a single corporate tax rate of 25 percent. They also include reducing the [continue reading]

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