Government has gazzeted the Value Added Tax – VAT bill which will facilitate the removal of a 16.5 percent tax on cooking oil and other commodities.
The development comes after President Chakwera assented to the Taxation Amendment and VAT amendment bills.
Speaking to MIJ Online, Taurai Banda, spokesperson for the Ministry of Finance and Economic Planning confirmed that the bills have been gazzeted.
Banda said government is expecting all retailers and stakeholders to implement the required VAT adjustment, in accordance with the law.
