VAT is increased to 19% from 18% from January 13, 2014, while the reduced VAT is also increased to 9% from 8%.
This is stated by the VAT Service in its announcement, noting, however, that "the increase does not affect the products and services covered by the VAT legislation at the reduced VAT rate of five (5%) or at the zero VAT rate."
At the same time, it recalls that according to the regulations, "taxable persons who are affected by the change of the normal VAT rate must, after the end of the operations of its business, the day before the day on which the rate increase takes effect. VAT, to make an inventory of the stocks of its company, which includes quantitative counting and valuation ".
They must also "record the inventory in an inventory of the company's inventories and keep it for a period of six years."