President Dr Irfaan Ali has announced a slew of measures that will be implemented by the new government, geared to sectors ranging from medical to construction.
During a press conference on Monday, Ali announced that VAT will be removed on all medical supplies, not just on supplies related to COVID 19.
In addition, corporate tax will be removed from private health care and private education.
According to Ali, they will also remove VAT on construction materials and cell phones, fulfilling a major campaign promise the party made in the run-up to the elections.
He also announced the removal of VAT and duties on machinery and equipment, a measure intended to recapitalize industries such as mining and agriculture.
VAT will also be removed on fertilizers, agrochemicals and other materials. When it comes to exports, VAT will also be reversed.
