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The government is evaluating a proposal to replace the current sales tax system with a new value-added tax (VAT) regime aimed at modernizing its tax framework and revenue collection.
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To mitigate VAT’s impact on low-income individuals, authorities are considering providing fixed monthly compensation to support affected households and maintain purchasing power among vulnerable populations.
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The IMF has recommended transitioning from sales tax to VAT since 2022 to reduce inefficiencies and boost long-term growth, with technical assistance planned for 2025 reforms.
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IMF support will focus on debt sustainability, public investment, and tax administration modernization, emphasizing coordinated reforms and IT upgrades to enhance compliance and investor confidence.
Sources:
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