Gazette on VAT increase published

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An extraordinary gazette has been issued increasing the Value Added Tax to 12% with effect from today (01).

The VAT shall be charged:

(a) On import of goods set out in the H. S. Code and description specified in Column I and II of Schedule of the Extraordinary Gazette Notification No. 2095/20 dated November 01, 2018, at the rate specified in the corresponding entry in Column III of such Schedule ; and

(b) On the import and/or supply of goods or supply of services, other than the import of goods as referred to under sub-paragraph (a) of this paragraph, at the rate of twelve per centum (12%)