The amended Value Added Tax (VAT) Bill which includes an increase of tax on retail and wholesale outlets to Rs.50 million a year will be gazetted tonight or tomorrow morning, Cabinet spokesman Dr. Rajitha Senaratne said a short while ago.
The new bill also imposes VAT on private health services with the exclusion of diagnostic tests, dialysis and OPD charges. The tax will also be imposed on telecommunication services, tobacco products, powdered milk which contains added sugar and other sweeteners.
Dr. Senaratne said the tax will be removed as soon as the government receives funds pledged by the Asian Development Bank and World Bank. (Yohan Perera)