COPA concerned about VAT collection

The Committee on Public Accounts (COPA) recently questioned the Inland Revenue Department (IRD) whether the government received the VAT (Value Added Tax) paid by the public for various goods and services.

IRD has said that there are some 13,000 establishments registered for the payment of VAT. While the tax department has maintained that it is being monitored COPA has stressed the need to ensure that VAT is collected properly.

The government recently increased VAT from 15 to 18 percent, with effect from January 01, 2024.