VAT only for nine months

May 10, 2024

political Current Affairs

VAT only for nine months

September 14, 2016

Value Added Tax (VAT) would be imposed only for nine months, and the public would be given relief after that, said Health Minister Rajitha Senarathne.

Addressing an event in Kalutara he added that the Budget for year 2017 would be presented to the House on 10th November.

The VAT Bill was approved at the Cabinet yesterday. “An Act, which has a bearable pressure on public, was passed”, he added.

“Previous government has not obtained loans through the treasury. Therefore, we have to settle a Rs.1.3 trillion loan. This was the cause for the VAT issue”, he added and said “this is a temporary issue. Even under this situation, we will take measures to provide relief to the public. ”