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VAT on apartments from 1 April 2019

VAT on apartments from 1 April 2019

The Finance Ministry yesterday said that 15% VAT would only be imposed on apartments from 1 April 2019 and ruled out any policy inconsistency on behalf of the Government.

The confusion of dates was due to a technical error in the initial document that deferred imposing 15% VAT for a year. However, developers, and other stakeholders had subsequently been notified of the error by letter.

(FT)

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