- Chairperson of Finance and National Planning Committee tabled Finance Bill 2024 on May 13, 2024
- Changes effective from July 1, 2024
- Bill proposes to eliminate excess input tax refunds for manufacturers in official aid funded projects
- Section 17(5)(e) to be deleted, removing entitlement for VAT refund for excess input over output tax for manufacturers in official aid funded projects
- Manufacturers will only be able to offset excess input tax against subsequent VAT liabilities, no option for refund applies
Source: globaltaxnews.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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