Ministry of Finance announces favorable changes in VAT
26 August 2020
The Ministry of Finance has published a draft of changes to the VAT Act as part of a SLIM VAT system. It provides for simple invoicing, simplifications for exporters, exchange rates shared with income tax and a packet of three financial benefits. The draft also contains a number of clarifying and supplementing regulations, including with regard to the VAT rate matrix and binding rate information (WIS).
More details available in our Tax Alert. If you have any questions don't hesitate to contact us.