- VAT rate proposed to increase from 15% to 15.5% starting January 1, 2026.
- Introduction of a Digital Services Withholding Tax (DSWT) on payments to non-resident digital platforms, replacing VAT on imported digital services.
- Export-related VAT on minerals and certain goods must be paid in US dollars or equivalent foreign currency.
- Different VAT rates for lithium exports based on processing stage; new VAT on unbeneficiated chrome exports.
- Reforms aim to modernize tax collection, improve compliance, and better capture digital and traditional economic activities.
Source: vatabout.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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