- VAT introduced on 1 January 2025
- Circular released on 3 December 2024 with announcement
- Covered taxpayers have compliance obligations
- Obligations include declaring start of VAT activities, issuing invoices, etc.
- Must adhere to VAT collection and payment requirements
- VAT rate on goods, services, and imports is 10% or 19%
- Some exemptions apply
- Exports subject to 0% rate
Source: bdo.global
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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