PM proposes to increase VAT to 15%
Posted by Editor on March 8, 2016 - 8:06 pm
Prime Minister Ranil Wickremesinghe has proposed in parliament today that the Value Added Tax (VAT) should be increased to 15 per cent considering the current global economic situation and shortcomings in the methodology of collecting tax.
The Prime Minister making a special statement in parliament said that tax concessions granted on Telecommunication services, private education and health services would be removed.
He said VAT would not be imposed on Essential commodities and electricity while it would be imposed only on selected non essential commodities.
(Daily Mirror)
Latest Headlines in Sri Lanka
- 2100 new Grama Niladhari officials appointed May 8, 2024
- Mujibur Rahuman nominated to fill vacant Parliamentary seat May 8, 2024
- Prosthetic limb distribution ceremony honors Sri Lankan war veterans May 8, 2024
- Diana Gamage loses Parliamentary seat May 8, 2024
- Sri Lanka’s Ministry of Defence exposes exploitation of war veterans as overseas mercenaries May 8, 2024
