Minority Warns of Increased VAT, More Tax Hikes Likely to Burden Struggling Businesses

• The Minority in Parliament warns of likely upcoming tax increases, which they say will further burden struggling businesses.
• The VAT Bill 2025 eliminates the flat-rate VAT system, raising VAT on retail goods and services from 3% to 15% and on real estate from 5% to 15%.
• The Minority Leader argues the new tax structure will make compliance harder and worsen the economic environment.
• The Deputy Finance Minister rejects these claims, stating the new VAT framework will simplify compliance and provide tax relief through changes to the Health Insurance Levy and GETFund Levy.

Source: citinewsroom.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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