By Mohammed Al A’Ali
REVENUES from Value Added Tax (VAT) are projected to be around BD288 million next year as the government doubles the rate from five per cent to 10pc.
This comes as the government expects to reduce the total deficit expected for 2022 from BD1.112 billion to BD823.528m.
The Shura Council’s financial and economic affairs committee has given the green signal to an amendment to the 2018 VAT Law to double the tax from January 1 next year and submitted a report to chairman Ali Al Saleh for inclusion during the chamber’s weekly session on Sunday.
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