Finance Minister Armand Achaibersing has reduced the proposed VAT rate to 10%. Earlier during the debates about the introduction of Value Added Tax (VAT), he had proposed to lower the rate from 15% to 11.5%. A VAT rate of 5% as proposed by the business community and the trade union movement, as well as by the NDP faction, is a “no deal” for the minister. With a rate of 5%, the government will not achieve the stated policy goals.
Source dbsuriname
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