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Preparing for the VAT rates change: important points to consider

The temporary VAT rate cuts included in the [anti-inflation] package adopted by the government (see our previous alerts 2022-08 and 2022-09 as well as the summary table below) and applicable in calendar year 2023 require businesses to review and address their impacts on their operations. Timely actions should minimize the risk of costly mistakes and may also trigger some cash-flow opportunities.

Source KPMG

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