Amended VAT Bill Imposed VAT On Many Sectors

According to the Amended VAT(Value Added Tax ) Bill approved by the Cabinet yesterday(13) VAT will imposed on Telecommunication Services,Tobacco Products ,Private Health Services excluding diagnostic tests,dialysis and OPD Services (without medical consultation),Powdered Milk with added sugar or other sweetener,Air Ticketing Fee of Air passengers moving from an Air Port in Sri Lanka to an Air Port outside Sri Lanka according to reports.

VAT will also  imposed on the wholesale and retail trade which threshold is greater than Rs.50 million per annum .

The amendments include the imposition of VAT on:
•    Wholesale and retail trade which threshold is greater than Rs 50 million per annum (Rs 12.5 million per quarter)
•    Private health services other than diagnostic tests, dialysis and OPD services excluding medical consultation
•    Telecommunication services
•    Tobacco products
•    Powdered milk which contains added sugar or other sweetening matter
•    Air ticketing fee of air passengers moving from an airport in Sri Lanka to an airport outside Sri Lanka
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