THE MINISTRY OF FINANCE SET TO INCREASE VAT FROM 12 % TO 14 % AS PART OF THE COUNTRY’S RECOVERY PLAN
Written by admin on November 13, 2020
The Ministry of Finance and Economic Development is currently working on the plans to increase the Value Added Tax (VAT).
Appearing before the Parliamentary Standing Committee on Government Assurances yesterday, the Permanent Secretary in the Ministry, Dr Wilfred Mandlebe said as part of the country’s economic recovery and transformation plan, his ministry has made a proposal for the adjustment of VAT from 12% to 14%, and it was approved by Parliament. He said the Ministry is making plans to effect the adjustment.
