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Gov’t seeks IMF’s counsel on lowering VAT

Mai 24, 2016

A reduction in the current 16% Value-Added Tax (VAT) rate is not possible before the next budget, according to Finance Minister Winston Jordan, who says that although the Tax Reform Committee (TRC) has made such a recommendation, government has sought guidance from the International Monetary Fund (IMF) to ensure that the right decision is made…. Mehr erfahren

Sri Lanka Increased VAT Rate To 15 Percent

Mai 10, 2016

On May 2, 2016, Sri Lanka raised its headline rate of value-added tax from 11 percent to 15 percent to shore up the nation’s finances. A day earlier it had controversially expanded the scope of the VAT to cover healthcare services. Some other goods and services have been added to the tax base, to substantially… Mehr erfahren

English language schools should be VAT exempt – federation

Mai 9, 2016

English language schools should be VAT-exempt to be more competitive in the global market, the Federation of English Language Teaching Organisations said. “More favourable VAT exemptions, as exist in other destinations, on tuition and services as well as simplified and more efficient procedures when it comes to issuing of visas can give the sector a… Mehr erfahren

New VAT law to fuel living costs

Mai 4, 2016

Prices of many goods and services will soar, while various local industries will face increased competition with imported goods once the new VAT and supplementary duty law comes into effect in July. Framed at the prescription of the International Monetary Fund, the new law envisages a flat 15 percent value-added tax, replacing different rates of… Mehr erfahren

Polish finance minister wants VAT to stay at 23% next year

April 27, 2016

Finance Minister Paweł Szałamacha said on Tuesday that he wants Poland to maintain a standard 23 percent VAT tax rate next year. “In 2017 these rates will stay at the same level. That’s the recommendation I will put forward,” Szałamacha told public broadcaster Polish Radio. The previous Civic Platform-led government headed by Donald Tusk raised VAT… Mehr erfahren