Cabinet Has Approved The Proposed VAT Amended Bill

Cabinet has today (13) approved the proposed VAT (Value Added Tax) amended Bill submitted to  Cabinet  by the Finance Minister Ravi Karunanayake.

Although the government has attempted to submit the Bill to the Cabinet on several occasions, due to the opposition of opposition MP's it has been delayed and amended several times.

Under the The VAT Amended Bill the  increase of VAT from  11% to 15% is due to remain further it has been reported.