Bidvest 3663 has joined the VAT Club Jacques Borel, which aims to reduce the level of VAT in the hospitality sector from 20 to five per cent.
Andrew Selley, Bidvest 3663’s chief executive, said that a reduction in VAT would create more jobs, increase spending on wages and training and allow their customers to charge lower prices.
“The reduction in VAT would enable the hospitality sector to better compete with food retail, where the VAT rate on the majority of food products is zero per cent,” he added.
