Bread and financial transactions, including credit and debit card issuance as well as foreign exchange dealings, have been spared from value-added tax in a U-turn from initial proposals contained in the Finance Bill 2024.
Excise duty on mobile-money services by cellular phone providers has also been retained at 15 percent even as duty on telephone and data services, fees charged for money transfer services by banks rises to 20 from 15 percent.
