VAT introduced

Journal
Smith, S. (Suzanne)
Asia-Pacific Tax Bulletin 1999 (Volume 5), No. 4
Price USD 45

The VAT, which came into force on 1 January 1999, has replaced the turnover tax. The VAT is imposed at rates of 5%, 10% and 20%. Exports are zero-rated. VAT is computed by the tax deduction method or the direct taxation method.