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Cabinet agrees to keep VAT at 7% for another year

Cabinet agrees to keep VAT at 7% for another year

21 Sept 05:13 Key points summarised by AI
  • The Cabinet decided to retain the 7% VAT rate on goods and services until September 30, 2024, to stimulate economic recovery through consumer spending.
  • This decision offers relief to consumers and businesses, averting a potential increase to 10% that could have negatively impacted spending.
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