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Financial Act 2023/2024: Sales tax rates for imported goods and hotel, restaurant, and bar services have been increased to 20% from 18%

  • Sales tax rates for imported goods and hotel, restaurant, and bar services have been increased to 20% from 18%.
  • The sales tax rate of 18% has been retained for other goods and services.
  • Sales tax is applicable to produced goods, imported goods, and specified services such as hotel, restaurant, and bar services, telecommunication services, and financial services.

Source: taxnews.ey.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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