Significant Tax Acts Amendments Effective from Presidential Assent on 29 December 2023

• VAT rate for commercial properties reduced from 15% to 5%
• Flat rate tax of 5% introduced on rental of commercial properties
• Zero-rating extended for locally manufactured textiles and vehicles
• Zero-rating introduced for locally manufactured sanitary towels
• Tax waived on electric vehicles for public transportation
• Ad valorem tax bands expanded and specific rate of stamp duty increased

Source: ensafrica.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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