WHEREAS, the current sales tax does not allow collection of the tax on the added value created wherever a sales transaction is conducted;

WHEREAS, the value added tax minimizes the damage that may be caused by attempts to avoid and evade the tax and helps to ascertain the profit obtained by the taxpayers;

WHEREAS, the tax enhances saving and investment as it is a consumption tax and does not tax capital;

WHEREAS, replacement of the current sales tax by value added tax enhances economic growth and improves the ratio relationship between Gross Domestic Product and Government Revenue;

NOW, THEREFORE, in accordance with Article 55(1) and (11) of the Constitution, it is hereby proclaimed as follows: