News
MPs Suspends The 16% VAT On Fuel In A Bill Sponsored By Junet Mohammed
The Parliament has this afternoon approved an amendment to Clause18 of the Finance Bill, 2018, sponsored by Minority Whip Junet Mohamed ,suspending the implementation of 16% VAT on fuel,which was to take effect on 1st Sept.2018, for a period of 2 years, citing the high cost of living.
The amendment brought on the finance bill by minority whip Junet Mohammed means that the levy will take effect on September 1, 2020.
The House has further rejected a proposal contained in the Finance Bill, 2018, and adopted by the Committee on Finance & National Planning, seeking the reduction of Gaming Tax from 35% of revenue to 15%. The Gaming tax on revenue remains at 35%.
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