Parliament has passed the Value Added Tax 2025.
The object of the Bill is to revise and consolidate the law relating to the imposition of Value Added Tax.
Presenting the Report of the Finance Committee on the floor of the House, the Chairman of the Committee, Isaac Adongo noted that the Bill seeks to create a more equitable tax system, reduce complexities in the administration of the Tax, promote voluntary compliance and also foster a growth-supportive tax environment.
The Bill is expected to further enhance revenue mobilization and improve efficiency in the tax administration thereby making tax collection much more cost efficient.
