The draft tax programme published by the Inland Revenue Division on 12 August 2026 sets out proposed priorities for 2026–2028. It includes work on implementing VAT alongside repeal of existing taxes, as well as work on transfer pricing and information sharing.
The document describes a programme under consultation in August and September 2026. Mention of a broad-based VAT in this working plan does not, by itself, establish either the rate applicable to transactions or a date on which businesses should start charging it.
Preparation can examine how purchases and sales are recorded today, to identify what the proposed replacement of taxes would change. This remains an impact analysis: the programme does not yet determine transactions giving entitlement to deduct, possible exemptions or transitional arrangements. Contracts and systems can be examined without putting tax parameters into invoices that the document does not provide.
In practice, operators may identify potentially affected systems and contracts without anticipating an obligation not established. Programme approval and implementing legislation will need to be followed. The consultation timetable is not the timetable for a new tax becoming chargeable.