Political sources say that the government has planned to reduce VAT through the budget document to be presented in February 2025. The report also states that the International Monetary Fund has expressed its agreement to the alternative proposals presented by the government to recover the lost state revenue.
Accordingly, it is expected to divide the VAT into several slabs and collect it, and it has been proposed to reduce VAT on certain goods and increase VAT on other goods.
The inaugural budget of the National People’s Powers government is scheduled to be presented to Parliament on February 17.