An amendment proposal to the Value Added Tax Act No. 14 of 2002 was officially released on August 31, 2023, and awaits presentation in Parliament. The purpose of this post is to elucidate the key provisions contained within this proposal. It is essential to underscore that the content of this Bill remains subject to potential alterations during its legislative journey through Parliament.
- SVAT scheme to be abolished
- Removal of VAT exemptions
- Removal of VAT deferment on imports
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Bill to amend the Value Added Tax Act No. 14 of 2002
EY Tax Alert on Bill to amend the Value Added Tax Act No. 14 of 2002
