The Ministry Of Finance has decided to
reduce the VAT (Value added tax)imposed over imported Textiles by 10 percent from 15 percent to 5 percent with effect from midnight tonight (17).
The Minister of Finance Mangala Samaraweera has today (17)signed the Gazette Notification in this regard.
The 15 percent VAT Imposed on imported Textiles was implemented since 18 th of August 2018 as a 2018 annual Budget Proposal .Earlier Rs.100 sess tax was imposed per 1 Kilo Gramme of Imported Textiles.
The reduction of VAT Imposed on imported Textiles was made as per the requests made by several small and medium scale textile Businessmen from Finance Ministry.
The Minister of Finance Mangala Samaraweera has today (17)signed the Gazette Notification in this regard.
The 15 percent VAT Imposed on imported Textiles was implemented since 18 th of August 2018 as a 2018 annual Budget Proposal .Earlier Rs.100 sess tax was imposed per 1 Kilo Gramme of Imported Textiles.
The reduction of VAT Imposed on imported Textiles was made as per the requests made by several small and medium scale textile Businessmen from Finance Ministry.
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