Value Added Tax (VAT) increase
- VAT taxpayers can declare the VAT as tax increase as long as it is not less than 3% for 2018 and 2019, 2.5% for 2020, 2% for 2021 and 2% for 2022 based on the annual total VAT calculated on their respective declarations submitted for each taxation period.
- It is possible for taxpayers to increase their VAT, at an amount not less than stated by the Bill, even if they have not filed any tax returns, provided that the taxpayer applies for an income tax base increase.
Source EY
