Amendments to VAT and Inland Revenue Acts

Friday, 21 February 2025 00:00 - - {{hitsCtrl.values.hits}}

The Cabinet of Ministers at their meeting on Wednesday approved the publication of draft bills amending the Value Added Tax (VAT) Act No. 14 of 2002 and the Inland Revenue Act No. 24 of 2017 in the Government Gazette, paving the way for Parliamentary approval.

The Legal Draftsman’s Department prepared the amendments in line with Cabinet decisions made on 9 December 2024, and 3 February 2025, respectively. Following a legal review by the Attorney General, the draft bills have now been cleared for the next stage of the legislative process.

These amendments are expected to introduce key tax reforms aimed at enhancing revenue collection, improving compliance and addressing loopholes in the existing tax framework.

The move comes as it continues to implement fiscal reforms to strengthen economic stability and boost revenue generation.