The National Council for Peace and Order issued an order last night which effectively results in the 7% Value Added Tax being maintained for another fiscal year until Sept 30 next year.
According to the order, the junta announced the VAT rate will be cut to 6.3% from Oct 1 to Sept 30 next year. However, the 7% rate currently applied will be maintained because the 6.3% rate will have local tax of 0.7% added.
The municipal tax takes effect in the same period as the 6.3% adjustment.
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