- The Finance Bill, 2024 was presented to the National Assembly.
- Proposed tax measures include:
- Introduction of specific instances that may constitute tax fraud.
- Reinstatement of sales tax on advance payments.
- Comprehensive framework for auditing sales tax affairs.
- Implementation of an electronic invoicing (e-invoicing) system.
- Changes in sales tax rates for various goods, including an increase for medicaments and certain categories of cellular phones.
- Repeal of zero-rating for local supplies to registered exporters under the Export Facilitation Scheme.
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.
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