Ahead of the mid-year budget presentation to Parliament, government has given indications of increasing taxes.
The government is likely to increase the Value Added TaX (VAT) from 17.5% to 21% and National Health Insurance Levy(NHIL) in its mid-year budget set to be presented to Parliament on Thursday, July 19, 2018.
The country’s Financial Management Administration Act requires the Finance Minister to come before Parliament not later than July 31, prepare and submit to parliament a Mid-Year Fiscal Policy review.
This often allows the finance minister the opportunity to review the targets.
