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The local e-mobility and mobile phone assembly industries, which are still in their nascent stages, are facing a major setback if the National Treasury succeeds in pushing through the Finance Bill 2024, which has proposed to subject Value Added Tax (VAT) on electric buses and locally made mobile phones.
Some solar appliances, whose popularity has grown among both industries and households, will also be affected, with the Finance Bill also seeking to slap solar and lithium-ion batteries with the 16 per cent VAT.
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