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Saturday 21 July, 2018
The official Financial Regulation Journal of SAIFM
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VAT rate changes to 15%

The increase in the VAT rate from 14% to 15% was arguably the biggest announcement in the 2018 Budget Review from a tax perspective.

Practical considerations of the VAT rate increase as of 1 April...

On 21 February 2018, the Minister of Finance announced in his Budget Speech that the standard rate of VAT of 14% would be revised upwards to 15%, as of 1 April 2018, in line with Government's drive to raise additional revenue.

Residential property developers face cash flow crunch due to VAT on...

Many residential property developers will kick off 2018 with a major cash flow challenge as a result of a substantial value added tax (VAT) liability which they may face in respect of the temporary letting of residential units which have been developed for resale.

Watch out for VAT changes in 2018 Budget Speech

February’s budget speech is expected to hit a slightly more optimistic note as a result of resurgence in business and consumer confidence.