VAT on knowledge, Govt blames IMF
The Sri Lanka Book Publishers Association (SLPBA) on Friday expressed displeasure over the 18 per cent Value Added Tax (VAT) that was imposed on books since the beginning of this year. Though prices of the books have already been printed last year, the government has directed the publishers to print fresh stickers with the new price, inclusive of the VAT.
During a media briefing at the Sri Lanka Foundation Institute, SLPBA Past President, Vijitha Yapa said: “Last year in September when the 18 per cent VAT on books was announced, we met President, Ranil Wickremesinghe and discussed about exempting the VAT, but nothing happened since then. After lobbying and writing letters to the Finance Ministry, relevant authorities and various ministers, we were asked to write to the IMF directly and sort things out as it was an IMF condition and the authorities have no control over it.”
He also mentioned that it is an obstacle towards the expansion of knowledge in this country as people can’t afford to buy books. “Any book publisher or printer with a monthly turnover of over Rs. 5 million is liable for VAT on top of all other taxes that are imposed when importing the raw materials for printing,” he added.
Sri Lanka Books Importers and Exporters Association, President, Dinushi Abeywickreme stated, “It’s not just the 18 per cent VAT that is added to the price of the book, but overall a tax of 30 per cent inclusive of other taxes and price hike of all raw materials following the COVID-19 pandemic and economic crisis in Sri Lanka.” The government must take a deep look into the availability and affordability of the books for the future generation of the country towards knowledge building, she added.
It was also mentioned during the briefing that book publishers have stopped taking orders from authors as the already printed books cannot be sold at the printed price on the books. Global statistics reveal that around 70 per cent of people still read physical books while in Sri Lanka already 30 per cent of book shops have closed down since the economic crisis.
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