22 October, 2020

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SLFP Wants Amendments Made To VAT Bill

The SLFP has requested Prime Minister Ranil Wickremesinghe and Finance Minister Ravi Karunanayake to make several amendments to the VAT Bill which was scheduled to be presented in Parliament on Thursday. The SLFP had warned that they will not support the bill, if the amendments were not incorporated to the bill.

President Sirisena - Leader of the SLFP

President Sirisena – Leader of the SLFP

Following the SLFP stand, Wickremesinghe and Karunanayake has decided to incorporate further amendments to the bill and then present it in Parliament. If passed in parliament, the bill will become a legislation and the public will have to pay an additional 4 percent of VAT from the current 11 percent.

In April this year, President Maithripala Sirisena said that any economic advisor who suggest a tax increase which will burden the public will be sent home. However, since then he has remained tight lipped about the tax increase.

In May, the government increased VAT from 11 percent to 15 percent, however following a petition by Opposition MP Wimal Weerawansa; the Supreme Court issued an interim order suspending the tax increase mid last month. In the event Parliament passes the VAT bill, it will become a legislation and the Supreme Court order will have no effect.

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Latest comments

  • 3
    3

    SLFP WANTS AMENDMENTS MADE TO VAT BILL.

    These are by no means arguments for abolition of VAT. VAT is an internationally accepted non-cascading tax system and operates in more than 100 countries in the world. We have to do more groundwork to firmly establish the VAT in the Sri Lankan economy and gradually extend VAT to the wholesale and retail sectors.

    President Sirisena should understand the plight of the economy by now and warn his SLFP ministers either support the VAT bill or keep your stinking mouth shut.

    • 0
      0

      Sorry Mudson, H.E.Mr. Sirisena does not understand. He is surrounded by some men with low IQ.They advise him to stop the production of Asbastos.No substitute that is within purse of the masses had been identified. Clay based tiles is not the answer, the stocks of clay is fast drying up.

      They want to restrict the sale of alcoholic products and and curtail the income from it. Good, if they can identify an alternative source of tax income.After all the politicians including Mr.Sirisena and the safron robed gentlemen who advise him are paid out of that income.

      They want to restrict the cultivation of paddy and maize, forgetting or being ignorant of the fact that these two sources can replace petroleum and coal imports in stages until the cost to the country reaches near zero level. It may take about five years.Concurrently the farming community will benefit.These two agricultural products can be used to generate electricity as in Iceland.That need basic research.Saving in imports Rs 74,000,000,000

      There is a person who wants to supply Local varieities of rice at Rs 60 per kg. He had not realized that at that price, no farmer will touch them.

      We are living in a world of make believe.

    • 0
      0

      Dear Mudson, H.E.Mr. Sirisena is now paying for his major sin.He chirped at the Sri Kotha how his family was connected to the UNP, That was before the election.When he won, he failed to dissolve the parliament to prevent the UNP getting a 2/3 rd majority. Now Mr Sirisena has to live with his petard with the likes of Dilan Perera.

  • 1
    2

    Plight of the economy and plight of the people: They go hand in hand; what should be given priority?

    If it’s the economy, why should people tolerate lavish spending on politicians and high ranking officials at economy’s expense?

    Isn’t it a burden for the Economy to nurture MPs, of which 50% are ministers.

    Do MPs represent people? People want to know that.

    Where’re the election promises?

    Leaders, Please keep to your words.

    • 1
      1

      Spot on.. and we have a minister close to Sirisena who takes a building on rent for 21mn a month.. and has not even used it for 2 months! Walk the talk Yahapalanaya.. walk the talk!!

      Right now- hail Weerawansa!!:)))

  • 1
    1

    This government came to power with various promises but increasing VAT and expanding the scope of VAT was not in the agenda and at that time they said that we will stop all the corruption all the frauds irregularities and recover the wealth from previous politicos and after that we will develop this country like utopia but now a different story please answer to this question or if you cannot run this country please resign and we are fed up with your dismal performance

    • 0
      0

      Mr Punyasena, if you are not born yesteday you should be well aware of the facts about the folks you belong to.
      Every second is pro corruption and abuses than anti. So in a country just becasue some changes in the leadership have been made, how dare you to even think of the fully elimination of courrption and abusive culture. Corruption is part and parcel of our culture. Talk your family and close circles… interview yourself at least 50 within your circles… you will clearly know what I ve been saying the truth.
      Just get into a bus, go to a hosp, go to a market whereever you go you only meet highly corrupted your folks… so how dare you to just think Mr Sirisnea or Mr RW to change it fully within 18 months.
      I guess not even in 50 years – they the folks would change their attitudes.

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