Tuesday, October 4, 2016

Value Added Tax Bill Was Presented To The Parliament

Image result for parliament sri lankaThe Value Added Tax(Amendment) Bill was presented to the Parliament by Leader of the House Lakshman Kiriella this evening.

The new Amendments made to this Bill had been approved by the Cabinet on 13th of September.

Accordingly the Value Added Tax(VAT) will be increased to 15% from 11% of the services including Tobacco,Air Line Ticket Prices,Telecom and Private Medical Services excluding dialysis,diagnostic tests and OPD Services it has been reported.

The Supreme Court has issued an interim order in July by preventing the government from implementing 4% VAT increase until the Cabinet and Parliament give permission for that.

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