Sri Lanka Parliament approves VAT (amendment) Bill

Posted by Editor on December 11, 2023 – 5:20 pm

The Third Studying of the VAT (modification) Invoice was handed in Parliament of Sri Lanka with a majority of 45 votes.

A complete of 100 members voted for the Invoice whereas 55 voted in opposition to it.

Former Minister Roshan Ranasinghe, voted in opposition to it whereas Vadivel Suresh of SJB voted in favour.

Based on State Minister of Finance Ranjith Siyambalapitiya, VAT can be imposed on 97 out of the 138 items that have been beforehand free of the tax, in a bid to spice up state income.

Talking additional, the State Minister mentioned that Quick Message Service (SMS) in fastened phone networks will even be subjected to VAT, given the elevated variety of textual content messages despatched.

Nonetheless, medicines, tools utilized by disabled individuals, rice flour, wheat flour, greens, fruits, liquid milk, and the ‘Suwasariya’ ambulance service won’t be subjected to VAT, the state minister assured.