More Tax Hikes Coming: Government’s 2024 Medium Term Revenue Strategy
The Ministry of Finance's Medium Term Revenue Strategy 2024, approved by cabinet, outlines tax increases over five years. In 2024, taxes on airport services will increase and duty exempt items reviewed. In 2025, green tax, GST, import duties, corporate income tax on telecom, and tourism land rent will rise. Carbon credits monetisation and income tax increases planned for 2026, with further measures in 2027-2028.
The Ministry of Finance's Medium Term Revenue Strategy 2024, approved by cabinet, outlines tax increases over five years. In 2024, taxes on airport services will increase and duty exempt items reviewed. In 2025, green tax, GST, import duties, corporate income tax on telecom, and tourism land rent will rise. Carbon credits monetisation and income tax increases planned for 2026, with further measures in 2027-2028.
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The Ministry of Finance's Medium Term Revenue Strategy 2024, approved by cabinet, outlines tax increases over five years. In 2024, taxes on airport services will increase and duty exempt items reviewed. In 2025, green tax, GST, import duties, corporate income tax on telecom, and tourism land rent will rise. Carbon credits monetisation and income tax increases planned for 2026, with further measures in 2027-2028.
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