- Parliament has passed a bill to increase the standard VAT rate
- The bill also includes an increase in insurance premium tax rates
- The changes are aimed at generating more revenue for the government
- The new rates will come into effect in the next fiscal year
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.
