- The Inland Revenue Department announced the end of the simplified VAT scheme.
- A new risk-based VAT refund scheme will replace it starting October 1, 2025.
- The new scheme aims to provide timely VAT refunds for eligible parties.
- Final SVAT schedules must be submitted by October 31, 2025.
- SVAT schedule submissions will end on November 1, 2025.
Source: 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.
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