- Ministry of Finance has changed its stance on VAT treatment of resort services
- Previously, these services were considered as exempt from VAT
- Now, they will be subject to VAT at the standard rate of 5%
- This change will affect businesses in the resort industry
- The decision was made to align with international best practices and ensure fairness in taxation.
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.
