VANUATU DELAYS VAT IMPLEMENTATION TO AUGUST

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PORT VILA, Vanuatu (April 28, 1998 - PACNEWS)---Vanuatu's Minister of Finance, Sela Molisa, has announced a one month delay in implementing a Value Added Tax (VAT) and changes to business license fees.

Molisa ordered the change after consultation with the Council of Ministers.

He says VAT and the new fees now will be implemented August 1, not July 1, the previous target date, the Trading Post reports.

Planning for implementation of VAT by the government is well under way, he said, but noted that the deferral was necessary to give businesses more time to prepare for the changes.

Molisa said he is pleased with the way the business community is dealing with the VAT and licensing matters, which are designed to contribute constructively to solving the country’s ongoing economic difficulties.

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