Government has indicated that there will be no VAT charge on cooking oil following discussions with those in the sector.
This was unveiled a while ago in Parliament during the Patent 2022/2023 National Budget Presentation by the Ministry of Finance Sosten Gwengwe.
Gwengwe hinted that government believes that companies will also be able to reduce prices of cooking oil in their various business outlets.
The 16.5 percent VAT was re-introduced last year and is believed to have triggered a rise in cooking oil prices.
The minister also indicated that tap water has also been exempted from VAT effective April 1 once the K2.84 trillion 2022-23 budget has been passed..
