- Bills corresponding to tax measures in the 2024 budget received gazette notification on December 29, 2023.
- Enacted measures include changes to value added tax (VAT) rates.
- VAT flat rate of 5% on commercial properties.
- Zero VAT rate on locally manufactured sanitary towels.
- Extension of zero-rated VAT supply for locally assembled vehicles and African print textile manufacturers.
- Sanctions and rights of appointed withholding VAT agent.
- Exempt supplies.
Source: kpmg.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.
