1 October, 2020

Blog

VAT Bill Gets Supreme Court Nod

The Value Added Tax (VAT) Bill received the blessings from the Supreme Court today.

Ravi Karunanayake

Ravi Karunanayake

According to the Supreme Court ruling, the amended VAT Bill, is in accordance to the Constitution, this was announced in Parliament today by Deputy Speaker, Thilanga Sumathipala.

Thus, the Bill when comes into effect, will result in the public having to pay a further 4% tax from the current 11%.

The amended VAT bill was presented in parliament early this month for a second time, after the Supreme Court ruled that the first time the bill was presented it was not in accordance to the Constitution.

In April this year, Prime Minister Ranil Wickremesinghe made an announcement in Parliament that the VAT will be increased from 11% to 15% with effect from May. However, following a petition by Opposition MP Wimal Weerawansa; the Supreme Court issued an interim order suspending the tax increase mid-July. The tax increase was to become affective after the Government passed the VAT Bill in Parliament, however the government suffered yet another setback in August when the Supreme Court ruled that the government had not followed the correct procedure when presenting the Bill in Parliament and therefore it was null and void.

Print Friendly, PDF & Email

Latest comments

  • 5
    0

    RE: VAT Bill Gets Supreme Court Nod

    “The Value Added Tax (VAT) Bill received the blessings from the Supreme Court today.”

    Naturally. There was representation.

    The people elected the politicians, and the Politicians elected to increase taxers by way of VAT. This is representative Govt.

    What can the people do? Not elect them again? Whoever the people elect they will do the same. Sri Lankan politicians are not much different.

    • 5
      1

      Tell me about it… and old Ravi, just look at his smile of glee… Damn SOB… Why the heck cant they, at least file cases in all the frauds that took place, pressure them into paying back something for a start??? Seems like they are tying to take this money from us and let them go free??? Seems like wheels withing wheels are grinding… Is someone paying for Protection??? Or maybe, someone has a fat ‘file’ about someone which is not spoken of???

Leave A Comment

Comments should not exceed 200 words. Embedding external links and writing in capital letters are discouraged. Commenting is automatically disabled after 7 days and approval may take up to 24 hours. Please read our Comments Policy for further details. Your email address will not be published.