BUDGET 2023: Finance Minister proposes removal of VAT on residential properties

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Finance Minister Dr. Ashni Singh on Monday proposed the removal of the 14 per cent Value Added Tax (VAT) on the sale of residential properties.

He proposed this as he read the 2023 National Budget at a sitting of the National Assembly hosted at the Arthur Chung Conference Centre at Liliendaal, Georgetown.

Dr. Singh said this move is expected to support the government’s aggressive housing drive and reduce the cost of home ownership.

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