SLFP supports VAT Bill

19 September 2016 08:05 am - 14     - {{hitsCtrl.values.hits}}

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Sri Lanka Freedom Party (SLFP) said yesterday the Valued Added Tax (Amendment) Bill was redrafted well in consultation with it, and therefore it had no reason to oppose it in Parliament.

The government has redrafted the VAT Bill to be enacted in Parliament.

SLFP Vice President Petroleum and Petroleum Gas Minister Chandima Weerakkodi told Daily Mirror the government excluded services such as diagnostic tests, OPD charges from VAT based on proposals by the SLFP.

The Minister said the government also increased the threshold for VAT liability on retail and wholesale trade from Rs. 12 million to Rs.50 million as the SLFP proposed.

“Therefore, we have no reason to oppose the VAT bill in the present form. We submitted our views at the respective Cabinet meetings,” he said.

The government is planning to present the Bill in the House this week. It has the required majority to pass it comfortably. The VAT rate is slated to be increased to 15 percent from the current 12 percent in this exercise.

Meanwhile, the Joint Opposition and the Janatha Vimukthi Peramuna (JVP) have already raised objections to the VAT bill. (Kelum Bandara)

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  Comments - 14

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  • dickie bird Monday, 19 September 2016 03:32 PM

    Have the weak got to suffer what they must ?????Election promises have evaporated??

    karu Monday, 19 September 2016 04:28 PM

    You never paid VAT from your pocket. Businessmen act as an agent and that is where the problem lies. People would prefer to buy it from those not registered with VAT.

    Rukmal Perumal Monday, 19 September 2016 09:41 AM

    The current VAT rate is 11%. This is getting even more confusing.

    Bala Monday, 19 September 2016 09:57 AM

    The JOkers are against it to reduce funds to the govt revenue so then can say govt has no money for development. It is not for the sake of the people or country but just to get power by bringing govt down and start looting and advance corruption.

    Sharon Monday, 19 September 2016 10:30 AM

    Thanks to 8th Jan...

    Sri Lankan Monday, 19 September 2016 10:45 AM

    The SLFP is supporting it mainly because most of them are from the list and have got ministerial posts. It is not a surprise to see the whole of SLFP supporting this IMF BILL whereas they all should in the opposition but today they have joined the UNP to meet their greedy ends UNP NOR THIS SLFP care for the country and her people via DM Android App

    Ruwan Monday, 19 September 2016 10:55 AM

    Its not quite clear as to what is VAT applicable. Can someone explain whether VAT is applicable to items that are not currently applicable? As I understand there are some new items that will be VATable after the increase.

    MK Monday, 19 September 2016 11:09 AM

    "let us ruin the country in the name of Ypalanaya and sahajeewanaya"

    Dammika Monday, 19 September 2016 12:04 PM

    We are waiting for the elections.

    Mandy Monday, 19 September 2016 12:53 PM

    So tell me who is for you and me and country - you mean MR family

    Sofia Monday, 19 September 2016 12:56 PM

    So you can fall into the fire of hell under MR.

    BV Monday, 19 September 2016 01:06 PM

    I am a businessman.I have been a VAT payer for 15 years.I have paid even 20% as VAT.So what's the big problem?For people wearing political glasses it seems to be problem.

    jolly bird Monday, 19 September 2016 01:11 PM

    DURING THE PREVIOUS REGIME PEOPLE DIDNT HAVE THE GUT TO CRITICISE ANY PRICE INCREASE IN ANY FORM. NOW THE SITUATION HAS TOTTALY CHANGED. via DM Android App

    Anja Monday, 19 September 2016 02:22 PM

    Come to canvas to my home hammer you broom via DM Android App


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