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October 28, 2020

VAT Changes in Response to Coronavirus Disease 2020


The temporary VAT changes are to come into effect from 1 July 2020, considering the corona virus outbreak.

As a result, The VAT rate will be reduced from currently 7 percent to 5 percent, and the VAT rate on shipment and handling will be reduced from 19 percent to 17 percent from 1 July 2020.

Needless to mention that it is to apply for only a limited period of time.

 



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