Value Added Tax (Amendment) Bill in Parliament today (11)

COLOMBO (News 1st); State Minister of Finance Ranjith Siyambalapitiya says that the Value Added Tax (Amendment) Bill will be tabled in Parliament once again on Monday (11).

Issuing an statement, the State Minister said that the Bill will be passed in Parliament on Monday (11).

State Minister Siyambalapitiya said the relevant draft bill was submitted to Parliament in August, including the list of goods which will be subject to VAT.

He said however the opposition attempted to create an unnecessary issue on Sunday (10) by asking for the list.

The Sri Lanka Freedom Party has reached a decision to vote against the Value Added Tax (Amendment) Bill.

The party announced the decision in a statement issued with the signature of the SLFP Propaganda Secretary Thisara Gunasinghe.

The Value Added Tax (Amendment) Bill was presented to Parliament on Sunday (10).

However, Parliament was adjourned until 9.30 am on Monday (11) due to the lack of quorum.

According to the tax amendment bill, the current VAT percentage which stands at 15 percent will be increased to 18 percent. 

In addition, many goods and services that were not subject to VAT will be included in the list of goods and services subject to VAT.