NBR withdraws increased VAT on workshop sector

The National Board of Revenue (NBR) has withdrawn the increased VAT on the workshop sector, reverting it to the original rate of 10%.

The NBR announced this decision on Monday (January 20).

According to the NBR, an ordinance issued on January 9 had increased the VAT on workshops to 15%. However, this decision has now been reversed, and the VAT will remain at the previous rate of 10%.

Earlier on January 16, the NBR had also reversed its decision to raise VAT in the hotel and restaurant sector.