- The VAT rate will remain at 15 percent, not increasing to 15.5 percent as previously planned.
- Measures to support lower income households against the VAT increase will be withdrawn.
- Additional food items will continue to be taxed at 15 percent.
- A formal notice was published in the Government Gazette.
- A new Bill will be introduced in the National Assembly to reverse the VAT increase.
- The Value-Added Tax Act allows the Minister to amend the VAT rate through a Budget Speech.
- The Bill must be passed by Parliament and promulgated by the President.
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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