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VAT proposals in budget 2023 – 2024

  • Permanent reduction in valued added tax (VAT) rate of 6% on gas and electricity (to be compensated by an adjustment of excise duties when prices normalize)
  • Technical correction of implementation of VAT directive on e-commerce
  • Implementation of “health shift” by increasing VAT on unhealthy products and decreasing VAT on healthy products (such as vegetables and fruit)

Source: KPMG

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