- The Finance Bill 2026 proposes to change the VAT status of several goods and services from “exempt” to “zero-rated.”
- Affected items include pharmaceutical manufacturing inputs, transportation of sugarcane, locally assembled mobile phones, electric motorcycles and bicycles, solar and lithium-ion batteries, electric buses, animal feed manufacturing inputs, and bioethanol vapour stoves.
- These changes aim to widen the tax base and enhance compliance to meet revenue targets.
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.
