Increase in VAT Rate From Today

As from today (02.05.2016) the Value Added Tax or VAT is increased  from 11 per cent to 15 percent

The Ministry of Finance said the VAT will only be increased on a selected few items and not on essential goods.

Originally it was decided to implement increase in VAT from 1st April 2016, but due to various reasons, it was postponed. While the new VAT amendment will have an impact on  the health and communication sectors, Education is exempted.