Financial Institutions Set To Apply 7.5% VAT On Select Banking Charges

Financial institutions have begun informing customers of a government-backed regulatory change that will require the collection of Value Added Tax (VAT) on selected banking and service fees starting Monday, January 19, 2026. In customer notices issued by Moniepoint, the institutions said a 7.5 per cent VAT will be applied to eligible charges and remitted to...The post Financial Institutions Set To Apply 7.5% VAT On Select Banking Charges appeared first on New Telegraph.

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