Business

Tax reduction fails to bring big impact on prices

Business

Tax reduction fails to bring big impact on prices

© THE decision to reduce value added tax (Vat) from 15 percent to 14,5 percent and to change the intermediated money transfer tax (IMTT) tax-free threshold from $20 to $100, had a minimal impact on prices of basic goods. Vat is an indirect tax on consumption, charged on the supply of taxable goods and services…

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