Thursday, 9 July 2009

Update: VAT Increase

The Finance Minister decided to raise the VAT (Value Added Tax) by 1%, putting it up to 16.5%.

The rise in tax will go into effect as of 1st July 2009 until 31st December 2010.

This means that you may feel a slight increase in prices on certain goods and services.

If you want to understand more, here is an explanation.

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