- The VAT regime will replace the current Goods and Services Tax (GST) in 2027.
- This change signifies a major shift in the country’s tax structure.
- Businesses and consumers will need to adapt to the new VAT system.
- The transition aims to streamline tax collection and improve compliance.
Source: research.ibfd.org
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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