The Minister of Finance and Economy Development presented the budget for 2023-2024 on 6 February 2023. Regarding (indirect) tax, the budget includes, amogst other things, the following:
- Introduction of electronic billing/invoicing platforms to improve value added tax (VAT) compliance;
- Implementation of the “Debt Recovery Strategy” and strengthening of the tax audit function;
- Review of the list of VAT zero-rated or exempt items.
Source: KPMG
