Govt moves to squeeze in VAT reforms

The Ministry of Finance and Development Planning this week successfully asked Parliament to fast-track discussion and approval of amendments to the VAT Act that will allow for exemption of farming implements.

Following legislators' endorsement of the request, the amendments were scheduled to be discussed yesterday (Thursday). Under Parliament's Standing Orders, bills are presented before Parliament for discussion 30 days after they are gazetted. However, the finance ministry invoked a Motion of Urgency - which is also provided for in the Standing Orders, - that allows a bill to be brought before legislators earlier than 30 days.