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Frequently Asked Questions on VAT

Last updated on 17 August, 2018


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What are the transitional provisions for contractual agreements?

If a contract between two businesses concluded before January 1, 2018 and the goods are to be supplied after the implementation date, then in this situation, if the seller didn’t plan ahead and include VAT in their sale price, they’ll end up paying the VAT out of pocket and losing out on some of their expected profit.

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