As the supreme court issued an interim order to suspend the VAT (value added tax) increase VAT will remain as 11% until a relevent legislation is passed in the parliament the minister of finance Ravi Karunanayake has stated today (11).
Once the legislation passed at the parliament VAT will be increased by 4% from 11% to 15% the minister has revealed.
Earlier government has announced a VAT increase on certain goods and services by 4% with effect from 02nd of may this year.Due to this prices of most of the essential goods including food to cloths in the market had risen and caused various difficulties to consumers.
Once the legislation passed at the parliament VAT will be increased by 4% from 11% to 15% the minister has revealed.
Earlier government has announced a VAT increase on certain goods and services by 4% with effect from 02nd of may this year.Due to this prices of most of the essential goods including food to cloths in the market had risen and caused various difficulties to consumers.