Finance Act (Amendment) Bill, 2020 (SB.397) – 11/03/2020

The bill seeks to amend the Finance Act 2020 by clarifying the administrative effective date for the increase in Value Added Tax (VAT) from 5% to 7.5% as 1st February 2020 and including animal feeds in the list of basic food items that are exempted from VAT.

The bill went through second (2nd) reading at the Senate and was subsequently referred to the Committee on Trade and Investment for further consideration.