- VAT Act Amendment Act, 2024 introduces key reforms
- Streamlining VAT on supply of goods through auction
- Employer supplying goods/services to employee for no consideration now taxable
- Refund claim threshold for overpaid tax increased to Shs10m
- List of public international organizations expanded
- Amendments to Second Schedule of VAT Act
- Exempt supplies added and removed
- Various supplies now exempt, including electric vehicles, charging equipment, software installation services, cooking stoves, life-saving gear, and services for energy projects
- Specific criteria for exemption for industrial park operators and investors mentioned
Source: globaltaxnews.ey.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
