May 28, 2026 07:30 (EAT) • 3 days ago
Finance Bill 2026: Why Gov't wants to impose 16% VAT on digital payments
An interesting clause has been the proposal to introduce 16% VAT on Digital PaymentsThe Bill proposes to remove VAT exemptions on money dealings and financial services, by introducing a 16% VAT on digital payment processing, transfers, and merchant acquiring services.