House Approves VAT Law Amendment

The House of Representatives approved a government draft law to amend certain provisions of the Value Added Tax Law, aimed at developing the tax system, enhancing transparency, and achieving tax justice. The amendments include expanding the scope of some exemptions, regulating the tax treatment of medical devices, reducing the periods for refunds of refundable credit balances for taxpayers, as well as supporting small projects and streamlining procedures to improve liquidity and stimulate investment.

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