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Friday, 15 April 2016 - 12:53
VAT To Be Increased To 15% From 2nd Of May
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The Ministry of Finance has announced the Value Added Tax to be increased to 15 percent from the 2nd of May.

In addition, it has been decided to impose a VAT for the supply of telecommunication as well as health services.

VAT will be imposed on all supplies of goods and services for any project, with the exception of housing projects.

Releasing a statement on its website, the Finance Ministry further noted that the NBT also known as the Nation Building Tax will remain unchanged at 2 percent.

However, the Telecommunication services and power supply will be subjected to the Nation Building Tax from the 2nd of May.

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