President intends to exempt school essentials, medicines, and medical equipment from VAT

Sri Lanka President Ranil Wickremesinghe in Parliament

Sri Lankan President Ranil Wickremesinghe, in a special statement delivered in parliament today (March 06), unveiled the government’s intention to decrease the Value-Added Tax (VAT) in the near future.

He further elaborated that this initiative includes exempting school exercise books, stationery items, medicines, and medical equipment from VAT.

President Wickremesinghe arrived at the parliament complex this morning (March 06) to update the House on Sri Lanka’s economic recovery process.