On 30 September 2022, the Minister of Finance presented the Budget Statement for 2023, aimed at supporting the recovery of the tourism sector from the adverse effects of the COVID-19 pandemic, reducing the cost of doing business and raising domestic revenues, to the National Assembly.
VAT aspects
- zero-rating of the supply of milk cans and milking machines selected information and communications technology and telecommunications equipment;
- exempting gaming, betting and lotteries and game animals imported as breeding stock from VAT;
- introducing a standard rate of VAT on selected energy-saving appliances and equipment;
- removing VAT relief on goods imported by the president which are subject to VAT;
- exempting from VAT plant, machinery and equipment imported by a special purpose vehicle (“SPV”) for projects under public-private partnerships arrangements; and
- allowing an SPV to claim input VAT before the commencement of commercial operations.
Source ensafrica.com
