The Cabinet has given its approval to remove the Nation Building Tax (NBT), Pay As You Earn (PAYE) Tax and Withholding Tax on interests, the Co-Cabinet Spokesperson said today.
He mentioned this during the first press briefing to announce the decisions of the new government’s Cabinet of Ministers. It took place at the Department of Government Information this evening.
The Cabinet has further decided to reduce the telecommunications levy to 25%.
These decisions were taken during the first Cabinet meeting of newly formed government held at the Presidential Secretariat.
Meanwhile, the Cabinet of Ministers decided to slash the Value Added Tax (VAT) from 15% to 8%.
