- The national budget for 2025-26 focuses on steady course correction due to external risks and domestic constraints
- Fiscal measures include a 15 percent FSC Tax for individuals with income over Rs 12 million and companies with income over Rs 24 million
- VAT registration threshold will be reduced from Rs 6 million to Rs 3 million from 1 October 2025
- Basic Retirement Pension eligibility age will be raised to 65 years
- New Smart City projects will not receive current fiscal incentives and will incur additional fees
- Non-citizens will face higher registration duties and land transfer taxes on residential property
- The Non-Citizens Property Restriction Act will limit property transactions on State Land by non-citizens
- Data protection laws will align more closely with international standards
- Virtual Asset Service Providers will receive an 80 percent partial tax exemption if they meet certain requirements
- A Price Monitoring Information System will enhance the Competition Commission’s ability to regulate prices and conduct audits
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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