Frequently Asked Questions on VAT

Last updated on 08 February, 2019

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Will the implementation of VAT affect my cost of living?

The impact of VAT varies from person to person, since every individual’s spending methods and income range is different. If a person tends to spend more on zero-rated and exempt goods, then they will not experience a huge change in their cost of living. Alternatively,if a person tends to spend primarily on general products that are taxed, they will experience a minor increase in their cost of living.

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