New VAT rates scheduled to come into effect on 1 June

25 May 2016
715 Views

The General Secretariat of Public Revenue has issued a circular according to which the new VAT rates will come into effect on the 1st of June.

According to the circular, the standard VAT rate will increase from 23% to 24%, while the standard VAT rate on the islands will increase from 16% to 17%.

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