- Government is proposing to increase standard VAT rate to 23%
- This would result in higher prices for consumers
- The increase is aimed at generating more revenue for the government
- Critics argue that this could negatively impact the economy and lower consumer spending
Source: research.ibfd.org
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.
