"VAT, food, medicine, electricity, telephony, drinking water, other services such as gas and basic needs for the satisfaction of our people are exempt from VAT", said El Aissami of the National Constituent Assembly (ANC). where he presented a series of laws for tax and tax reform.
Last Friday, the head of state announced that VAT will go from 12% to 16%. This measure – which will take effect from 1 September – will be applied to all luxury goods.
The ANC presented a series of tax reform laws within the framework of the program for economic recovery, growth and prosperity.
In addition to the law on the reform of value-added tax, the law on the reform of major financial transactions and the law establishing the temporary scheme for the payment of and advances on value added tax and income tax (ISLR) were approved. . Passive issues that are qualified as special. AVN / RA