Government Implements Zero-Duty Rate and VAT Exemption on Basic Food Items

• Government has approved regulations for zero-duty rate and VAT exemption on specified basic food items
• This move aims to make essential food items more affordable for consumers
• The regulations will help reduce the cost of living for the general public
• Basic food items such as rice, sugar, and cooking oil will be included in the zero-duty rate and VAT exemption
• The government hopes that this will help alleviate financial burden on households and improve food security.

Source: research.ibfd.org

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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