- Taxpayers are unsure whether the new tax changes introduced by the Finance Act 2023 will apply from July 1, when most provisions of the Act were set to take effect, or from July 28, when the Court of Appeal lifted the conservatory orders suspending implementation of the Act.
- The Act, which was gazetted on June 26, introduced various tax changes to be implemented on different dates, with the new Pay as You Earn (PAYE) rates for individuals and the controversial affordable housing levy set to come into force on July 1.
- Other tax changes, including an increase in VAT on petroleum products and mandatory remittance of withholding and withholding VAT taxes, were also set to take effect on July 1.
- However, shortly after the Act was gazetted, a petition was filed and conservatory orders were granted by the High Court barring implementation of the Act until they were lifted by the Court of Appeal on July 28.
Source Business Daily Africa
