VAT (amendment) Bill to be presented to Cabinet

News

The Value Added Tax (Amendment) Bill will be presented to Cabinet today. The Bill will be presented to the Cabinet by Finance Minister Ravi Karunanayake, a statement issued by the Ministry added.
The Supreme Court on July 11 issued an interim order suspending the increase of VAT from 11% to 15%, after considering a petition filed challenging the tax hike.
However, proposed tax increase from 11% to 15% will remain unchanged, it was reported.

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