VAT goes up :: Mmegi Online

Government has increased Value Added Tax (VAT) by two percentage points, from 10 percent to 12 percent, as it tries to compensate for dwindled mineral and customs revenues by dipping its hands into the pockets of consumers.

VAT is an indirect tax levied on the supply of goods and services and is paid by the end consumer. In the 2010-2011 national budget, Finance and Development Planning Minister Kenneth Matambo said yesterday that the VAT increase, effective April this year, is one of the many measures that government has taken to get total estimated revenues as mineral income is not expected to reach normal levels until the 2012-2013 financial year.

Among other measures of raising or conserving cash, several fees and levies are also expected to be increased in the next few months. Civil servants have been denied a salary increase for the second year running.

Already have an active account? Log in here.

Or Sign up and get unlimited access to premium articles.

Explore

More

VAT goes up

Government has increased Value Added Tax (VAT) by two percentage points, from 10 percent to 12 percent, as it tries to compensate for dwindled mineral and customs revenues by dipping its hands into the pockets of consumers.

FlyNamibia set to launch Windhoek-Maun flights

Motse wa Setso more than a music festival

Creatives raise hands for political office

Levy on Technical Devices calls blind, partially sighted

Kenosi’s love for Afro hair births Frocrowns

Mangomolo to deliver NOW! Online Channel

Zacci WaBantwana releases Batswana Ke Kopa Skeem

BNSC powerless as fights escalate

Inspect the voters' roll!