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Cabinet keeps VAT at 7% for another year
AI In-brief 23 Sept 06:43

Cabinet keeps VAT at 7% for another year

  • The Cabinet decided to maintain the 7% Value-Added Tax (VAT) rate for an additional year, extending it until September 30, 2027, to alleviate living costs and stimulate economic growth.
  • Military officers participating in the early retirement program for fiscal years 2025, 2026, and 2027 will receive personal income tax exemptions on their retirement benefits, supporting the government's military downsizing goals.
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