VAT and NBT to come into effect from today

News

The increase in Value Added Tax (VAT) and Nation Building Tax (NBT) will come into effect from today (Nov 01).

The VAT increase from 11% to 15% was approved with the passing of the VAT (Amendment) Bill in Parliament on Oct 26.

The VAT rate will also affect telecom services, tobacco, air ticket fees and private medical services excluding diagnostic tests, dialysis and OPD services. The Nation Building Tax rate is 2% and will remain unchanged.

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