Further Extension of Reduced VAT Rates
On August 25th, 2020, the cabinet passed a draft bill to extend the current reduced rate of 7% VAT for another year. The statutory standard rate of VAT is 10%, but successive Royal Decrees have reduced the rate to 7%. Once the draft bill is enacted, the reduced rate will take effect from October 1st, … Continue reading Further Extension of Reduced VAT Rates
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