The value added tax (VAT) will be increased to 12% with effect from today, The Prime Minister’s Office said in a statement.
During the meeting of the Cabinet of Ministers held on May 25, the approval was given to amend several Acts including the Inland Revenue Act No. 24 OF 2017, Value Added Tax Act, No. 14 of 2002, Telecommunication Levy Act No21 of 2011, Betting and Gaming Levy Act, No.40 of 1988 and the Fiscal Management (Responsibility) Act No. 3 of 2003, with a view to increasing government revenue.
