VAT and the Expanded VAT Law

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With the increase in the VAT rate from 10 to 12 percent effective February 1, 2006 as well as the expansion in the coverage of the VAT-able sectors under the E-VAT Law, it is important to understand where and to what extent the impact of said changes will hit both consumers and producers. This EID therefore aims to outline and explain the features and possible effects of these sector and rate increases.