Several goods or services have been reclassified from zero rated to exempt in the proposed finance bill 2023/24

How does VAT affect the selling prices of exempt and zero rates supplies?

For a trader who sells exempt supplies, they do not charge VAT on their sales and for a trader who sells zero-rated supplies, they charge VAT at 0%. This means that the selling price for both exempt and zero-rated supplies is not increased by VAT.

Read further Tax News KE

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