VATupdate

VAT proposals in budget 2022

  • A VAT rate of 9% for certain activities in the hospitality and tourism sector to continue to 31 August 2022.
  • The flat-rate addition for farmers (which compensates non-VAT registered farmers for irrecoverable VAT on their input costs) to decrease from 5.6% to 5.5% from January 2022.

Source: KPMG

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