The VAT on face masks, surgical gloves, ethyl alcohol and antiseptic soaps, gels, tissues and other personal protection products to prevent infection with coronavirus has been lowered to 6 pct from 24 pct, based on an Act of Legislative Content published in the Government Gazette on Saturday.
The same ALC also speeds up the refunds of income tax and VAT to businesses.
Meanwhile, another ALC on emergency coronavirus measures tabled in parliament will restrict the number of antiseptic and disinfectant products, including ethyl alcohol, that each customer can purchase at a time to just three, either from supermarkets or pharmacies, and stipulates that they must be sold in individual packages. The measure aims to eliminate “artificial” shortages of such products due to bulk purchasing by consumers.
In a bid to eliminate overcharging, meanwhile, retailers will be required to ensure that their gross profit margin is not greater than that before February 1, 2020. Violations will carry fines and a ban on any sort of advertising, by any means.