- The government plans to repeal VAT exemptions on key food items in the 2026 budget.
- Essential foods that were previously exempt will now be subject to VAT.
- This move is expected to increase the prices of basic food products.
- The policy aims to broaden the tax base and increase government revenue.
- Concerns have been raised about the potential impact on low-income households.
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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