Tax Bill on hold

9 August 2016 03:02 am - 7     - {{hitsCtrl.values.hits}}

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The government yesterday decided not to take up the Value Added Tax (Amendment) Bill for debate and enactment this week.

Earlier, it was scheduled to be enacted this week giving legal effect to the increase of VAT on goods and services.

However, the government decided at a meeting yesterday to shelve the enactment.

Finance Minister Ravi Karunanayake said the Bill would be amended further .

"We will not enact it this week. We will do it at the next parliamentary week only," he said.

Meanwhile, the Supreme Court determination on the constitutionality of the bill will be communicated to the House today. (Kelum Bandara)

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  Comments - 7

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  • Harry Wednesday, 10 August 2016 12:34 AM

    High time for FM to resign with respect or seek no confidence motion against the same person for the 4th Time in two years and let it move without tactics of the government in protecting the culprit.

    Henry Wednesday, 10 August 2016 12:55 AM

    People should understand as to why you need a good opposition to exist for any Democratic Government to assist in good work and oppose on detrimental moves to the country with constructive criticisms for the betterment of the country. Opposition members are also paid by the public enjoying all the perks hence, it's their prime duty to act accordingly within provisions of the legislation. Guess this VAT bill issue [blunder] shows a clear indication of FM and his teams failures in understanding of the constitutional legislation correctly!.

    Premalal Tuesday, 09 August 2016 11:09 AM

    Absolutely. But the free riders are the politicians and the bloated public sector.

    Roman Tuesday, 09 August 2016 11:14 AM

    While you increase the tax to 15% can you also give us a guarantee that going forward there will be no power cuts/ no water cuts/ no internet down time??? because if you cant, I believe its a total ripoff considering the poor level of service you provide to us consumers!

    SL Tuesday, 09 August 2016 02:44 PM

    SC has ruled the act is against the constitution. Most inefficient government ever!!

    Imtiaz Tuesday, 09 August 2016 04:30 PM

    The VAT bill seeks to widen the tax base, by reducing the VAT threshold. Unfortunately, this is why traders are up in arms.

    annoyed Tuesday, 09 August 2016 08:07 AM

    Consider widening direct tax base. There may be about 12mil workforce small to medium businesses. There are only 150k tax files. It is not right to make only few pay tax and majority make merry on free. Keep only one reasonable indirect tax. This will immediately bring cost of living down. It is not that difficult to identify who shoud pay tax with technology in place. The point is, country cant have majority on free ride.


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