VAT would be only for nine months: Rajitha

13 September 2016 10:17 pm - 6     - {{hitsCtrl.values.hits}}

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Health Minister Rajitha Senaratne said today the Value Added Tax (VAT) would be imposed only for nine months and that the government would take steps to provide relief to people by simplifying the VAT after nine months.

He said the VAT had to be imposed to pay back the loan amount of Rs.1.3 trillion that the previous government had obtained from various banks.

“The previous government had obtained State loans not through the Treasury but from State banks in other ways.

So the loan amount that the government had to pay back was Rs.1.3 trillion according to the International Monetary Fund (IMF).

That is why this VAT issue has arisen. It is a temporary issue. The World Bank has agreed to provide US$ 4.5 billion and Asian Development Bank has agreed to provide US$ 1.5 billion to pay back this loan amount,” he said.

Minister Senaratne expressed these views while participating at the Kalutara District State Services Sports Festival yesterday. He said the VAT Bill which was approved by the Cabinet today would have less impact on the people than the previous one. Mr. Senaratne said the budget for 2017 would be submitted to Parliament on November 10. (Ajith Siriwardana)

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  Comments - 6

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  • Yana Thursday, 15 September 2016 02:34 AM

    Isn't this the same know-it-all who said that there was positive video evidence of who killed Thajudeen? Seems to be suffering from foot-in-mouth disease.

    Premalal Wednesday, 14 September 2016 11:29 AM

    How about sacrificing your next duty free vehicle which will be bought from the increased vat. All for the sake of the suffering masses whom you are doing your best to serve.

    geriatrix Wednesday, 14 September 2016 12:12 PM

    Why do i need to pay for the blunders of the previous government ?? Why dont you take it form those who were running the previous government ?

    Silva Wednesday, 14 September 2016 12:37 PM

    If you can't govern in the name of god go. We do not want excuses.

    Leo Wednesday, 14 September 2016 06:11 AM

    The best relief the government could give us is getting of all you old time politiceans to retire. Rajitha Ravi Ranil Bandula Mahinda Vasudeva Weerawansa Gamanpilla D. Gunawardane and those who sit and fatten up. via DM Android App

    padmabpriya Wednesday, 14 September 2016 07:32 AM

    Yes we truly believe as stated. But we will see what happen after 9 months.It will continue to be remained then.


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