The controversial Value added Tax (amendment) Bill to taken up for debate today.
Member of the joint opposition (JO) in Parliament said they will move several amendments to the Bill to widen the scope of goods and services to be exempted from the tax particularly those linked to medical services.
The Supreme Court has ruled that the Bill is consistent with the Constitution.
In terms of the bill, VAT will be charged at 15 percent while the threshold of registration for VAT has been reduced from Rs. 3.75 million a quarter or Rs. 15 million a year to Rs. 3 million a quarter or Rs. 12 million a year.
The imposition of VAT applies among others to wholesale and retail trade where the threshold is more than Rs. 50 million a year or Rs. 12.5 million a quarter. The new rate will also be imposed on private health services other than diagnostic tests, dialysis, and OPD services excluding medical consultation, telecommunication services, tobacco products and powdered milk which contain added sugar or other sweetening matter.
Three other finance bills, namely the Ports and Airports Development Levy (Amendment), Nation Building Tax (Amendment) and Appropriation (Amendment) Bills will also be taken up today along with the VAT Bill.(CK)
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Two school girls were killed after the car driven by their father crashed on to a lorry on the southern expressway, a coroner’s court inquiry was told today in Galle.
Sri Lanka Customs has introduced an online portal to verify the authenticity of legally imported vehicles. This platform empowers the public to confirm vehicle legality by entering the chassis number and vehicle registration number into the portal.
Speaker Ashoka Ranawala whose educational qualifications have been questioned has decided to step down from the post of Speaker
A doctor attached to the Lunawa, Moratuwa District hospital has volunteered to offer her services to visit elderly patients at their homes and treat them.
Read tomorrow’s Sunday Times for your interesting columns incuding ’’The 5th Column’’ and many other articles.
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