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VAT

FBR estimates nearly $3.5bn VAT gap
Business

FBR estimates nearly $3.5bn VAT gap

ISLAMABAD: The Federal Board of Revenue (FBR) has estimated that the value-added tax (VAT) gap in Pakistan is nearly...
Published 16 Jun, 2021 03:39am
Botswana central bank sees inflation breaching target range
Business & Finance

Botswana central bank sees inflation breaching target range

  • Due to supply-side factors related to the coronavirus pandemic as well as the upward adjustments in taxes and administered prices we see inflation breaching the 6 percent upper bound before it falls back within the range in the first quarter of 2022.
  • Effective in April, the government hiked value added tax (VAT), increased the fuel levy and introduced a new tax on sugar-based drinks, which the central bank expects to drive prices higher.
Published 29 Apr, 2021 06:38pm
Saudi inflation rate eases further in March to 4.9%
Markets

Saudi inflation rate eases further in March to 4.9%

  • Annual inflation was 3.4% in 2020, picking up in the second half of the year after the VAT hike. The first half had seen mild inflation, following a deflationary trend in 2019, when the annual rate was -2.1%.
Published 15 Apr, 2021 12:04pm
Nigeria needs to raise VAT to boost revenues post-recession: IMF
World

Nigeria needs to raise VAT to boost revenues post-recession: IMF

  • "The Nigerian economy is at a critical juncture. Policy adjustment and reforms are urgently needed to navigate this crisis and change the long-running lackluster course," it said.
  • Nigeria collects the equivalent of 5.7% of gross domestic product in tax and the government mostly relies for revenue on crude sales.
Published 08 Feb, 2021 08:03pm