Tag: reclassification may seem like a technical adjustment

Zero-Rated vs Exempt: What the Finance Bill 2025 Changes Mean

The Finance Bill, 2025, has sparked widespread interest among citizens, and one area drawing scrutiny is the proposed reclassification of several goods and services from VAT zero-rated to tax-exempt status. While these two categories may seem similar on the surface, both relieve the consumer from paying VAT, the underlying mechanics and impact on businesses are […]...