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The Ministry of Finance says that the Tax Value Added Tax effect from next November

The Ministry of Finance says that the Tax Value Added Tax, or VAT and Nation Building Tax effect from next November.

The increase in VAT to 15 percent from 11 percent. VAT registration limit of the wholesale and retail trading in monthly turnover of 12 million is the decimal 5 or 50 million annually.
Smoking, alcohol, phone, electrical equipment, cosmetics, jewelry, and the powder is subjected to VAT on the goods.Also, health care and medical bills, said the Ministry of Finance said that the hospital medical fees and room rates have been subject to VAT.

However, housing sales have been exempted from VAT.There is no change in the rate of Nation Building which was 2 percent, according to the new amendment.


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