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Frequently Asked Questions on VAT

Last updated on 26 July, 2018


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What is the timeline for treating contracts as zero-rated?

For contracts signed before May 31, 2017, and contracts that are exclusive of VAT, the supply of goods and services can be treated as zero-rated until the end of the contract or December 31, 2022 (whichever comes first). The taxpayer should deduct any VAT incurred on the supply of goods and services made after the deadline.

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