- Government plans to change some zero-rated goods and services to exempt status
- Aim is to reduce VAT refund claims
- Reclassification will increase prices as input VAT will be passed to consumers
- Proposed changes include inputs and raw materials for pharmaceutical manufacturing
- Supply of electric bicycles
- Transportation of sugarcane to milling factories
- Locally assembled and manufactured mobile phones
- Inputs or raw materials for animal feed manufacturing
Source: assets.kpmg.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.
