VAT on financial services is only a consolidation of existing levies - DailyNews
--------------------------------------------------------------------
Source: Daily News
Published: 2026-05-06 05:30 UTC+10:00
Section: General
Factuality Score: 100
Opinion Category: Neutral
Topics: Politics, Economy & Finance, Tax & Budget, Business & Economy
--------------------------------------------------------------------
Snippet:
The change in VAT on financial services to 20.5% is not an additional tax increase but a consolidation of the existing 18% VAT and the 2.5% Social Security Contribution Levy (SSCL).
--------------------------------------------------------------------