The Cabinet will very likely propose to increase the reduced VAT rate from 6% to 9% effective 1 January 2019. The measure is expected to be included in the Budget plan which will be presented to Parliament on 18 September 2018. According to unconfirmed reports, whilst the measure would become effective on 1 January 2019, goods and services which are invoiced or prepaid for in 2018 but delivered/performed in 2019, would remain subject to the 6% rate.