As signalled early this year, the reduced 9 percent VAT rate for the hospitality sector will remain in place until 31 August 2022. The Minister announced that a decrease in the farmers’ flat rate addition from the current 5.6 percent to 5.5 percent is warranted for the year 2022, following a review of macro-economic data. The flat-rate scheme compensates un-registered farmers for VAT incurred on their farming inputs.
LOADING...