VAT on Exported Services
The Finance Act 2022 amended the VAT Act by deleting exported services from the exempt list (First Schedule). This therefore meant that exported services became vatable at 16% excluding those relating to business process outsourcing “BPO” services effective from 1st July 2022. As a result, a consolidated petition was lodged at the High Court.
NSSF New Rates 2023
Following the court of appeal decision on 3rd February 2023 where the National Social Security Fund (NSSF) Act No 45 of 2013 was upheld, NSSF have through a press release on the 9th February 2023 asked all employers to comply with the law in regard to the contribution rates with immediate effect.
Payroll Changes As per The Finance Act 2023
The Finance Act 2023 was signed into law on 26th June 2023. It brought several amendments to laws relating to various taxes and duties; However, the High Court temporarily suspended its implementation pending the hearing and determination of the petition(s) before it;