VAT (amendment) Bill to be presented to Cabinet

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Sep 13, 2016
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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.