Two VAT rates will be applicable after April 1
Friday, March 12, 2021
The VAT Act has what are referred to as transitional measures whenever a VAT rate changes and these, by default, result in the application of two VAT rates for a given time. In this article, the phrase ‘effective date’ shall be used to mean April 1, 2021, which is the date when the VAT rate is set to increase to 14%. The instances where this will apply are stated below.
Goods sold before 1.04.21
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