President promises fair solution to VAT issue

President Maithripala Sirisena

President Maithripala Sirisena yesterday promised that an uncomplicated decision will be taken on the VAT system following further talks with all stakeholders.

He made this observation during discussions with representatives of traders’ associations at the Presidential Secretariat on the VAT. Prime Minister Ranil Wickremesinghe and other ministers participated in the discussion. The President further said the main focus should be the consumer when the VAT issue is considered and assured that a suitable solution would be reached considering the problems of the business folk as well. The President also instructed that a representative of the traders’ associations participate at each meeting to be held on VAT together with the economic experts, ministers and public officials.

Meanwhile, Finance Minister Ravi Karunanayake speaking to the media following the discussions said that the discussions held on the (VAT) with representatives of traders’ associations was approximately 95 percent successful.

He also said that it was also not the final discussion on VAT. “The Government invited traders engaged in whole sale and retail businesses as well as delivery services to these discussions,”Finance Minister Karunanayake said.

“We pointed out as to how this VAT is implemented. Discussions were held in an amicable manner,” he added.

(Source: Daily News – By Sandasen MARASINGHE)