Firms to decide whether to remain VAT-registered
Business
Finance
October 20, 2026
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Businesses must continue to register for value-added tax (VAT) once their annual turnover exceeds $200 000, despite a promised increase to $350 000 that was due to take effect on October 1.
Finance Minister Ryan Straughn also warned that businesses which opt out of VAT registration once the threshold is raised must stop charging the tax to customers.
Until then, raising the mandatory registration threshold is not in force, but Straughn said the legislation should be ready within weeks.
Business
Finance
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