VAT Changes

Current VAT rate is increasing from 17.5% to 20% on 4th January 2011. All the sales of standard rated goods and services must charge 20% VAT from or after 4th January 2011.

These changes are valid only for standard VAT rate because there is no changing in the zero rated or reduced rated VAT sales as well as there is no change to the VAT exemptions.

Posted in English on Dec 12, 2010.