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IMPORTANT VAT NOTICE

01 March 2018

RE: THE INCREASE IN VALUE-ADDED TAX (VAT)

Dear Valued Client,

As you are certainly aware, the Minister of Finance announced an increase in the current Value-Added Tax (VAT) rate from 14% to 15% in the 2018 Budget speech delivered in Parliament on 21 February 2018.
The effective date for the new VAT rate is 1 April 2018. Please be advised that as from 1st April 2018 the Value-Added Tax (VAT) on all banking fees will be calculated at 15%. This change will have an effect on
the monthly fees on your account/s.

Should you require any further assistance with regards to your bank fees please do not hesitate to contact us.