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Government submits Draft for Budget Bill 2023

The Budget Bill for 2023 covers:

 

  • To extend the reduced VAT rate until 30 June 2023 (for passenger transportation, coffee, catering, cinema tickets, non-alcoholic beverages, tourist packages, gyms, dance centers and swimming pools.)
  • To reduce the VAT rate to 6% from 13% for animal foods and fertilizers
  • A temporary VAT cut rate of 24% for new buildings until 31 December 2024

Source: GVC

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