Budget revisions to VAT and NBT halted
January 13, 2016 06:52 pm
The amendments proposed to Value Added Tax (VAT) and Nation Building Tax (NBT) in the 2016 budget have been halted until the relevant legislative enactments are passed in Parliament, the Ministry of Finance said today.
Amendments to VAT, NBT and Land taxes made in 2016 budget came into effect from January 01.
Meanwhile it has also been reported that the VAT on wholesale and retail trade has been suspended.
