The Value Added Tax Act, 2013 (VAT Act) gives the Cabinet Secretary for the National Treasury (CS Treasury) powers to issue Regulations to guide the implementation of the VAT Act. Exercising these powers, on 7 April 2017 the CS Treasury gazetted the Value Added Tax Regulations, 2017 (VAT Regulations).
Under Section 67(2) of the VAT Act, the VAT Regulations will only take effect upon approval by the National Assembly. While we await the National Assembly approval, KPMG has analysed the VAT Regulations providing insights into the key changes from the current Regulations which are a holdover from the VAT Act, Cap. 476 which was repealed in 2013.
Some of the interesting provisions in the VAT Regulations, 2017, include:
You can access the analysis using the link below.
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