23 September, 2020

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Post Avurudu Shock: VAT To Be Increased From May

Merriment in view of the Sinhala and Tamil New Year was short lived, after the Ministry of Finance announced that the Value Added Tax (VAT) will be increased to 15% with effect from next month.

Ranil

Ranil Wickramasinghe – Minister of Economic Development & Policy Implementation

Accordingly, the revised tax from 11% to 15%, which will come into effect from May 2, will also affect the telecommunication and health sectors, which was earlier exempted from VAT.

The Nation Building Tax (NBT) will remain unchanged at 2%, but the current exemptions granted for the telecommunication service, supply of electricity, lubricants, supply of good or services to any specified projects other than on housing projects, will be removed with effect from May 2.

The Ministry of Finance also announced that the Share Transaction Levy shall be re-imposed at the rate of 0.3 percent from every buyer, and seller, on the turnover of every share trading transaction, which is conducted through a Stock Exchange.

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  • 17
    5

    In a way its a good thing to increase the taxes, as i can remember during MR’s regime there were some idiots went on a march requesting to increase the electricity bills.

    • 15
      8

      Gullible majority should learn to ask why ? I am sorry for the minority folks of the country get cornered being unable to see their voices being respected in lanken elections. Latter are the educated that could have the potential to run this country. Not the majority stupid voters across the country. Those who got intoxicated by Rajaakshes media propaganda are the curse of this country. Current situation will will help them to be away from the abusive men further. Rajapakshes looted the nation as no other counterparts in entire region. THe consequences should be clear to the folks. JVPers and other warned them adequately. JVPers are not given let alone 12 seats inthe new parliament- so it is high time people to clean their thoughts.

      • 7
        2

        Why did you fail April 5, 1971 ??

        Now make love again to Kim Jong Un.

        when the portugese kaffirs carted you into the island they called you Buro.

        As long as Diego Garcia and India are there you will only have wet dreams.

        When Trump wins he along with Xi would make Kim Jong Dung would go missing.

        You would go missing too.- take care.

        We all knew of the increase as they kept it in abeyance until they returned from a begging trip to China.- Begging bowl Buddhist Sovereignty.

        • 0
          0

          Somewhat over the top, delusional and quite unnecessary Mr Sarma

      • 9
        1

        Ranil has no choice but to increase taxes. It is unfortunate that indirect taxes are again on the increase.

        Ranil should have never agreed to the Rs 10,000 per month salary increase to govt servants which is costing the govt a whopping Rs 150 billion per year for 1.5 million state workers!!

        Unfortunately it is always the political decisions that take precedence over good economic decisions.

        It is the same shit with a different set of flies!!!

    • 7
      1

      Ranil Wickramasinghe – Minister of Economic Development & Policy Implementation

      RE:Post Avurudu Shock: VAT To Be Increased From May

      The New Policy:

      Increase Inefficiencies, and to pay for it Increase Taxes. A Great Strategy. Truly do ALL the Paras deserve it?

      Thank you. All the Paras in the Land of Native Veddah Aethho, deserves it. Why?

      National IQ Scores – Country Rankings

      http://www.photius.com/rankings/national_iq_scores_country_ranks.html

      Data from a segment of the Paras, is given below. The data should be similar to the other Paras, especially Sinhala and Muslims. Prome Minister, this makes your task easier.

      The Story Of Two Graphs drawn by A Tamil Man: By Mahesan Niranjan Onion Prices and Tamil IQ Distributions
      https://www.colombotelegraph.com/index.php/the-story-of-two-graphs-drawn-by-a-tamil-man/

      The bi-modal IQ distribution of Tamils.Others Paras are no different.

      https://www.colombotelegraph.com/index.php/the-story-of-two-graphs-drawn-by-a-tamil-man/onioniqdistributions/

    • 5
      0

      MPs’ salaries were raised by 5 times and perks as well.

      Taxes are increased to pay for these.

  • 11
    4

    This cant no means a shock – people should have been aware of it long ago.

    All along JVP and other society groups inlcuding UNP young politicians made it very clear the way Rajaakshes sold out the country for their temporary satisfacation could soon Uturn damaging entire economy. I myself listend to Dr Harsha De Silva reiterating this in Parliament in the days of MR. So people should have to face it today. Basta.

    These the consequences of being that indifferent by people letting the looters to take ground. Even today, they the majority folks feel – due to lack of informaton and knowledge perhaps, that Rajakshes could do better. Stupidity has driven them to this deteriorating levels. Not the current regime, Rajakashes wasteful nature to be blame.

    VAT is common to EU countries too, if things would go wrong. So this is a reality to all folks across the globe. Specially the contries that lacks rich natural resources like OIL, minerals, are victimized – for sure. But this could open the eyes of the majority – 48 lacks of voters that still thought Rajapskehs did that much.

    Journos wake up – and fill the gap of the information -. by bringing Rajakshe to the stage for your quesitons in terms of clearing and cleaning the allegations in the air. That can then help the masses – who are hte gawky folks/but vulnerable- who re the victims of the Rajakashes tyrany.

    • 3
      1

      This can no means

    • 7
      3

      If MR ruined the economy how it was possible economy to grow 10% in some months in 2014. Not my words, those are Arjuna Mahendran’s words at a recent meeting.

      • 1
        1

        ASK YOUR 10 year old boy /girl,
        they will know it better but you would not.-

        all the sums taken calling loans were not documented. Ask todays people. So, sums were included to final reports were much less than the sums really taken. In that way, you could even name it 20% of growth. Got it ?

        Much less had been documented whatever the deal they hadlend. The funds that went to their men, in portions ranging to billions – wihch are not subjected to be monitored – are losses in notyet seen places.

        But Panama and other breakthroughs will not allow those men to hide their bits further. If ICELAND PM resigned, why not the low level politicians of MR kind – be caught by law soon:

  • 7
    1

    If today ministery of finance should be questioned, why not former minstry of finance stay witout being subjected to investigations ?

    The guys that ran the ministry are not migrated to anywhere yet, people of this countr yhave every right to know the truths as they really are.

    Today, Internet has revolutionized the world- so lanken IT men and women can bring charts per projects summarising the factual data of each project. That way, only, media and govt can clear the mixed thoughts of the people. Playing with the people s innocient minds should finally be stopped -for the heavens shake.

  • 16
    2

    Excellent.

    GOSL can now finance even better perks to following people:
    Members of our bloated Cabinet
    Acrobatic Parliament
    Corrupt Provincial Councils
    Politically appointed board members & offcials of state enterprises
    All cronies
    Henchmen

    Please provide them with luxurious 4WD Jeeps, Mercedes & BMW cars. Nothing else will do.

    Housing in Colombo 7 addresses, endless allowances, foreign travel, 5 star meals & even massages are welcome.

    Cheers!

    PS:
    Would GOSL care to provide each impoverished & stupid citizen with a pirated copy of Orwell’s “Animal Farm” as well?

    At the very least, Sir!

    Since the stupid citizens already suffer terribly on stinking public transport. In endless lines to access public health services. Which can never provide critical drugs.

  • 13
    3

    Welcome my fellow citizens of SL our very incompetant gamarla and Mr.Katte Pittu PM who has nothing serious to say. every thing to him is a joke!we have over 100 ministers most have no office no staff so do no work only a few have got down to work. The fellows who have a office wants to spend 20-30 million a month to get a new office with film stars.The Yahapalanaya wasteage is keeping pace with Rajapakse spending . Now comes increase in taxes to pay for all this incompetance!Don’t worry guys Highways minister has appointed his son in law as Maganaguma Chairman. The daughter is the secy . All the staff have to get up form their seats and greet her when she walks into office ! those who don’t are punished! Gamarala’s bro has got USD 5000 a month approved as housing rent and the spinless board members& Minister in charge of SLT does nothing.I am sure rich or poor we will enjoy the additional taxes

    • 8
      7

      You guys are the representatives of the most abusive folks fo the nation.
      So come with facts and options for the solutions the wreckage clearence left by Musalaya Rajaapakshe the man who looted the sums to no go levels.
      Today, putting the burden on the Gamarala ( the decent pres the nation ever elected for the some real changes) and the decent PM, not trying to live on the tax payers funds – but they have no other options than going for VAT or an yother taxes actually. This country is an another hard up naton that needs foreign funds to run – keep the head above the water.
      If not vat what should cover the loans and all the sums grabs by your pingutharayas.

  • 4
    3

    We have to be ashamed of eating and drinking on begged money and talk about prestige etc. Instead of wasting time in fighting with Tamils, do some constructive work – not traveling all over the world and beg. At least LTTE used their own money, unlike the government used borrowed money and stolen money from Tamils. We can beg from west but other Asian countries will not give anything summa. Thank God we are not willingly selling kidney so far – except removed forcibly. We are selling many things for money but still not body parts. Increasing VAT and income tax(if people are working) is much better option than begging or selling our land, sea etc. Please support RW and same time pressurise him to recoup stolen money from MR&co.

  • 4
    1

    No doubt this was necessitated by the absurd corrupt cleaning out of the treasury by the Rajapakse regime where a man who did not pass his 10th grade OLevel exams was made Economic Development minister and was called Mister Ten percent for his greed.

    But these boys will only have about 2 years to keep blaming Rajapakses and start delivering on development projects and jobs. All temporary workers and construction work has ground to a halt. Colombo looks shabby again now. Road and bridge work stopped depriving the restless youth from means of income. Burglaries have escalated rapidly under this regime. Rape and murder are also extremely high. We cannot keep blaming Rajapakses for crime. More rapes happened in 2015 than last 2 years under MR.

    They have about 2 years to keep attacking and blaming MR and clan. But unless the very slow Judiciary starts working to prosecute people for mega corruption or even murder those accusations will start to wear thin. If no one is successfully convicted it will boomerang. The only thing that is going on now is the social media attacks and the UNP is really good at it and the US is helping Sri Lanka to attack MR and also dig up dirt on MR. Hope those will realize in actual prosecutions. Otherwise Harsha or AOG Eran will just also be chased out despite their good intentions.

    • 3
      6

      Sadly the mess the Rajapakses had left behind would take generations to get sorted. We will be forever just servicing the massive debt these criminals left behind. All of them got wealthy beyond their wildest dreams raiding our treasury, thieving from our fellow citizens and taking commissions on expensive prestige projects that we didn’t need nor could afford. Would somebody please ask how did the Rajapakse family bought mansions in Oklahoma, USA from their combined ministerial salaries alone. I rest my case.

      • 3
        3

        Have you seen this mansion ? Their low key brother Dudley lives in Texas. It is Sarath Fonseka who had a 200 thousand dollar plus type house and living it up for his kids when he was Military commander according to Intel. So if you are looking for non existent Rajapakse mansions, look in California and Texas. The low key Brother Dudley is a nice guy. Has nothing to do with patta pal hora Basil. Sarath Fonseka’s former son in law had a fancy BMW when he was supplying weapons, satellite imagery to Army. How did her get enough money to buy a fancy BMW?

        • 4
          0

          Don’t waste your breath on moros.
          You are talking to a canny fundamentalist Islamist.
          Who is masquerading as an atheist and is stationed in the UK.

  • 9
    1

    Why not try to reduce the cost of parliament?
    Reduce all the impotent ministers and and leanify!
    Show some commitment from your side!

    • 5
      2

      Srinath the MR appologists, the parlimentarians will stay so only the next constution is effective. Right at the moment, the Duo want it the way it is since then only they can get them passed – that they did before and now again. All the maraurders will be marginalized in 2 years also introducing them a code of behaviours. Buruanses and the like donkeys will surely have no ground in future parliament filled with young dynamic politicians. Oldies will have no ground either.

      I think once they found the billions grabs by Rajaakshe and his thieves, the govt can cover lots of debts accordingly. Rajakashes ownproperties of his grannies should be taken to the state.

      • 9
        0

        We are waiting for 18 Billion dollars MR stole. Oh my….

        In the meantime, why can’t the government reduce waste. Reduce number of Ministers, cut down on perks. There are other ways to reduce expenses. First give confidence to the ordinary people. People don’t see that. Promises will not help anymore.

    • 4
      0

      Its all in the revolution that he promised.
      He wants to free himself and his cronies while enslaving the citizen- the new dictator Raaa-nil- goal.

  • 5
    4

    This is sheer incompetence of PM. He fell for Mangy boys and Gallion Ravi’s USD 0.5 development loan hopes and made tosh out of the Chinese. Now reality has hit home Batalanda Ranil have to pay the Chinese 125m USD for his stupidity of stopping Port City. This is a crime he will pay for it very soon along with Bodhi Sira.

    • 3
      0

      Hey not just bashing but add your thoughts towards alternatives ?

      Let s nationalize the assests of Mahinda Rajaakshe kith and kin ?

      Alteast part of billions can be filled if we do so.. to relieve the public

  • 0
    0

    Govt, Follows advise of left leaning Joseph Stieglitz who asked the Govt to raise consumption taxes and harmonize tax rates across the board.

    I will also ask the Govt to introduce a supra tax on all consumption in our Star Class Hotels. Inelastic demand here. Go for it.

    Cheers.

  • 3
    0

    Ranil could not do lot of things. He could not save people from tax burden when there is not real income increase. He has not really attracted any industrial development. He has not saved the country falling into more debts. He has not made one criminal to stand for trial. He could not restore law and order. He couldn’t keep out nepotism. He couldn’t stop swindling in mega projects like 65,000 houses, Central Bank robery. When about one and a half months ago, Malik Samarawickrama returned from China, there were talks about $100 millions hand out to government officials by China to get back Port City. Neither Bribery Commission nor FCID can investigate these. He lead the illegal dismissal of Two CJs and appointed two illegal. Promises UNHRC on revolution couldn’t not be implemented. He did not have the guts to sack Pranayama. No land release for Tamils. No Prisoner release. No solution for Tamils…..

    But he is proud of achieving one thing. That is he gave promise not to sue a leader, a commander or soldier for the war. He promised to Old King in January 2015 to save him. HE HAS DONE THAT”.

    Even with the expense of the port city, enmity with the west, he determinedly has done that job. He complied about carrying previous government’s sin. But he kept his words of not punishing the previous government for its sin.

  • 0
    2

    2 % Nation Building Tax will not apply to Lubricants.

    Our FM and his ex Boss will be happy that Batalanada’s Finance Minister has given some concessions to the Yahapalana suckers.

    But 15 % VAT is going to hit the Elite hard with Red Label, Edam Cheese and Green Seas Tuna cans becoming real luxuries with hefty increases.

    One may wonder why Sumane hasn’t checked the effect of this on Dalits.

    Right now Dalits don’t have enough dough to buy even Dhall with no jobs new or old, although Batalanda kept bragging about one Million of them.

    That was before Batalanda was forced to take the begging Bowl to Beigin.

    But Galleon’s STL is the most interesting.

    Foreign Investors who had big holdings quit just before the NY after the Singaporean jacked up the USD to LKR 150.

    So the 3 % will have to come from the suckers who dabble in the CSE hoping to get rich quick under Yahaplanaya.

  • 1
    0

    Now the present government is very free, Srisena is travelling in passenger planes and travelling to North on his own without fear except slight fear is from MR loyalist army. So now there is no security threat and frankly speaking our army did not win LTTE. So now why we are wasting so much money on this ballooned huge army. Why no one is asking to reduce army and asking to reduce parliamentarians. Army is the one stopping North to turn to normality – supporting drugs, supporting old previous Tamil anti social elements roaming with rusted weapons and old government weapons. If the army leave North, the Tamil social workers can eradicate all these anti social elements in no time. We never had underworld thugs in North previously but how come they survive now, because they backed up by MR supporters. Young Singhalese have to rescue North now by reducing army to pre-war level. This is the only support we expect from Singhalese, not Mital crab houses and Buda statues.

  • 1
    1

    Mr President Sirisena and Mr Prime minister Ranil Wicremasinghe please do not make yourselves unpopular
    By hitting the people who voted for you ,below the belt.
    You are only making an easy comeback for the Rajapaksas.

    • 1
      0

      So tell them the alternative please

      • 0
        0

        The alternative would be to tax all politicians and recover all the money robbed and give the benefit to the people as promised . If Sirisena –Ranil government want to stay they must have people friendly programmes where they take the burden AWAY FROM THE PEOPLE.
        Make each politician forgo SIX months of their salary and perks for the good of the people until Srilanka is out of the red.
        Only then they are really peoples representatives , as of now all are self serving politicians big and small.
        Not worth the lot.

  • 1
    0

    Sama: “So tell them the alternative please”. Here it is: Tell the PEOPLE that the LOOT, estimated to be around US$ 18 billion by Rajapakse regime would be recovered. In addition, the financial frauds of which 22 cases have been finalized by the FCID would be handled in an expeditious and on an urgent basis, and the monies due nearly another Rs. billion would be recovered from those responsible and accountable. Then tell the PEOPLE that all the monies “LOANED” to high profile persons, by the Banks such as Govt. Banks; Bank of Ceylon & Peoples Bank, even without obtaining COLLATERAL and that are decided to be WRITTEN OFF would be recovered without FAIL. This totals to around Rs. 1 billion.

    Having explained as above to PEOPLE, and taking concrete steps in the recovery process, make a PROMISE that this VAT increase would be WITHDRAWN. Tell the PEOPLE the TRUTH and and ask them to bear with the Government for the present. The PEOPLE will definitely listen and wait for the results.

  • 0
    0

    Government must lead by example..prune/stop politicians salaries,perks,22M rupee car permits and show people politikkas lead by example.

  • 1
    0

    Do not worry Yasapala will take off the VAT increase on May 1st SLFP rally to get credit. This is yasapalana achcharu Govt. So UNP & Ranil will be the losers. How come MR maintained a 10% GDP growth in 2014. We are waiting as we were told the monies are in Seyshelles then in Dubai then in Singapore & finally in Panama. We rae bloody fools not the F politicians.

  • 1
    0

    New Royals are blaming old Royals. Never took any action if they had done anything wrong. There are people shedding tears for the New Thieves. Well, New Thieves sold the Hambantota to escape from the Old Thieves debt burden. Who is going to sell what part of the country to cover up Mahendran and Swaminathan’s debts? Is that the Old thieves going to come back then the old thieves’ supporters going to shed tears and do the chest beating so the Old Thieves can go for second round? Did the drama of Lankawe ever stopped from soon after the freedom, Don Stephen disenfranchise the Tamils? Don’s death, Solomon West Ridgeway’s Dias Murder, Sirima shed tears to steal the prime minister post, Dahanayake went to parliament in Sinhala Amuda, JR walked Dalada maligawe to create 1958 pogrom…..Every year a drama, chest beating, tear shedding….
    If the Port City is illegal then why the legal action brought by somebody didn’t do forward? What the New Royal government did to push it forward? Isn’t Sripavan is a puppet? Then why is not going forward? Is there no protection in the constitution when one hand over sovereign land like Port City, Hambantota etc. to another country’s jurisdiction? Is there no referendum necessary if lands are handed over to China, but if Tamils are allowed to manage their own land, a referendum necessary? What a comedy the Sinhala Intellectual preaching to Tamils?

    New Royals have come with their own agenda. They will not sue anybody. From JR’s time, impunity was given to their party, but the opposition was revenged. This continued until Old King, who, at start even weeding his party leaders like Chandrika, Siripathy Sooriachari, and Mangala like few others. But the New Royals, as they have come with their own agenda, extremely hesitating to sue or punish even the opposition party’s criminals. That is a new culture, extending the impunity to the enemies too. This is how they are putting their foundations to their future games. JR created a superbug EP’s he/she is immune from any lawsuits. New Royals have created new culture, according to that anybody from Old Royals and New Royals are immune to any lawsuits. When the Lankawe’s political culture is growing in that direction, the chest beaters shedding tears are making the Mahavaliganga to overflow.
    The voter modayas are selling their votes for one time Biryani parcel and a sip of arrack. For the next time, they are looting and/or stealing thalikodies. The ones selected by those votes are selling the sovereign lands to China and depositing the money in Dubai’s, Swiss’, Panama’s, and Seychelles’… Banks. For the rest of the time, shedding tears in the parliament blaming each other and claiming of carrying each other’s sins. Real Drama Kings and Queens are these both New Thieves and Old Thieves. Unless the crime is continuing and the crime is like drug deals where arresting single one will disperse the other criminals, the West handles the criminals like this. First they check the tax files. If no luck, then follow them even on the road and arrest for minor crimes like J-Walking. Once they keep them inside, the police complete the investigation in two or three weeks and file the action. The New Royals are not able to find a crime on Old Roayals serious enough to take action at a court of law. But they are shedding tears that they are carrying the Old Thieves’ sins. The Old Thieves sued the News agency for printing news about Mig-deals, but not suing Mangala after he accused them of having transferred $18 billion out of the land. They both groups of these thieves are one and the same but wear blue and green. That is it.

  • 0
    0

    Increase the taxes…
    Do not maintain the 225 in the parliament …besides tell 225 to tighten their belts this time onwards
    Tell your 225 elected to tighten their belts for a change..
    Divest all loss making public enterprises that swallow all what we pay….because people say you maintain them for political reasons….to make few happy..
    spend money on projects that benefits all….all the people
    people have seen the robber barons plundering the country ..

    INCREASE THE TAXES …
    IF YOU GENUINELY LOVE THE COUNTRY & ITS PEOPLE..
    IF YOU WANT THE COUNTRY TO PROSPER ONLY…
    PEOPLE WILL REMEMBER YOU FOREVER.

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