Indirect tax proposals include:
- Increase in the rate of value added tax (VAT) on the import and/or supply of goods or supply of services to 15% (from 12%)—effective 1 September 2022
- Reduction in the VAT threshold to LKR 120 mn per annum (from LKR 300 mn per annum or LKR 75 mn per quarter)—effective 1 October 2022
- Removal of VAT exemption on condominiums—effective 1 October 2022
Source: KPMG
Latest Posts in "South Africa"
- SARS Urges VAT-Registered Schools to Deregister After 2026 Tax Change
- SARS Amends VAT Exemption for Imported Goods to Match Customs Rebate Changes
- South Africa Consults on E-Invoicing and Near Real-Time VAT Reporting ModelSouth Africa Digital VAT Model: SARS E-Invoicing Plan
- SARS Unveils VAT Modernisation Plan for E-Invoicing and Real-Time Reporting
- South Africa Plans Digital VAT Modernisation with E-Invoicing and Real-Time Reporting
