PM’s statement regarding SC decision on VAT, NBT

11 July 2016 04:35 pm - 12 - {{hitsCtrl.values.hits}}

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The full statement by the Prime Minister on the Supreme Court decision on VAT, NBT follows;

On 11 July 2016, the Supreme Court of the Democratic Socialist Republic of Sri Lanka has issued an interim order preventing the implementation of the recent revisions made to the Value Added Tax (VAT) and the Nation Building Tax (NBT) until the relevant legislation is passed by the Parliament.

This interim order is not expected to have any adverse impact on the government’s revenue collection. The VAT (Amendment) Bill has already been presented to the Parliament for the first reading on 08 July 2016, and the second reading is expected on 23 July 2016.

The Unity government, which has a clear majority in the Parliament, expects the legislative process to be completed before the end of the month of July 2016. Thereafter, the revised rates will be applicable with effect from 02 May 2016.

July 11, 2016

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Comments - 12

BuffaloaCitizen Monday, 11 July 2016 04:53 PM

Don't you think that it is illegal to unilaterally and arbitral to implement the increase in VAT and NBT when it is still not approved by parliament? Is this another of the many times the educated and qualified in this country simply do not know the basics? Are we seriously a banana republic?

shanthapriya Monday, 11 July 2016 04:54 PM

can you pass a bill today and make it effective for the past period also.

shanthapriya Monday, 11 July 2016 04:59 PM

Thanks to my wife. I postponed my surgery to next week because of my wife s request for an auspicious time. Hurray i am 50% cured now. can i enjoy the price revision.

kk Monday, 11 July 2016 05:00 PM

Weldon WW and CJ via DM Android App

Unchikun Monday, 11 July 2016 05:18 PM

You, Mr. Kiriella and the finance minister should take full responsibility for this fiasco and resign. No that is not in Sri Lanka!

Sugath Monday, 11 July 2016 05:24 PM

Why does this government has to make a mess of everything they do via DM Android App

Sajith Nandadasa Monday, 11 July 2016 06:01 PM

This government failed in everything they touched. It's like a curse to the entire country.

Refunds Monday, 11 July 2016 06:08 PM

So will the Supermarket, Restaurants Mobitel, Dialog, Hosptals Refund the VAT paid. Or will they pocket it.

Citizen Monday, 11 July 2016 06:38 PM

As Prime Minister you have to take full responsibility for this fiasco. I hope the President will take note of this.

Yaha-P Monday, 11 July 2016 07:38 PM

This is how we operate!!!

Lawry Tuesday, 12 July 2016 05:15 AM

Joint Opposition should not behave like they have gastritis making a noise at every turn. Let the elected rulers run the country.

GALLEGUY Tuesday, 12 July 2016 10:42 AM

WELDONE WIMAL. YOU ARE THE MAN OF SERIES.

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PM’s statement regarding SC decision on VAT, NBT

Comments - 12

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