VAT Bill should not be passed: MR

4 August 2016 09:01 pm - 9 - {{hitsCtrl.values.hits}}

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Former President Mahinda Rajapaksa today said the Value Added Tax (Amendment) Bill should not be allowed to be passed into law.

It is taken up for vote on August 11 in Parliament.

The Kurunegala district Parliamentarian in a statement said, “This draft legislation seeks to revive and give legal effect to all the objectionable features of the VAT reforms that were suspended by the Supreme Court last month. The new VAT Bill seeks to increase the VAT rate from 11% to 15%, to bring the small and medium retail and wholesale trade and the private health care services within the ambit of VAT and to mandatorily require all establishments with a turnover exceeding Rs. 33,000 a day to register for VAT. A tax on health care is in effect a tax on ill health. The more serious the illness, the more revenue the government will make from that patient. Everyone knows that those who make use of private health services are not only the rich.

Traders and small businessmen countrywide, opposed the 15% VAT imposed on the wholesale and retail trade because it will cause an increase in the prices of goods when it is passed onto the consumer and lead to reduced sales. Previously the VAT on the retail and wholesale trade was limited to large establishments with a turnover of more than Rs. one million a day. But when the threshold is brought down to Rs. 33,000 a day, that brings even small establishments within the ambit of VAT. When retail sales drop as a result of increased prices, that leads to a chain reaction whereby the manufacturers who supply the goods don’t get enough orders to be able to break even,”.

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Comments - 9

Cobra Friday, 05 August 2016 06:06 AM

That's what we all want but look who is talking!!!!!!!!

Leo Friday, 05 August 2016 06:06 AM

At least this will be taken up in parliment unlike your dictorial implementations. via DM Android App

Saranung Friday, 05 August 2016 07:38 AM

Did you allow anyone to open their mouth when you were increasing Taxes. Remember we are paying your sins.

Top Hat Friday, 05 August 2016 07:50 AM

WHAT!? Does he want his kind of taxes instead!!!?

Rayan Friday, 05 August 2016 10:20 AM

EARLIER there was no vat on hospital bills or channelling. Thereafter they charged 15% on top of this but after it was brought down to 11% they continue to charge it on top so we pay this additional 11% now. via DM Android App

Rhonda Taylor Friday, 05 August 2016 12:05 PM

Ali Baba we are now paying for you and your 40 thieves who robbed our country to the core- just get lost

Thomas Ranger Friday, 05 August 2016 12:26 PM

Obathuma katenda katha karenna.

sudda Friday, 05 August 2016 12:38 PM

When it was 11%, none of these guys spoke. Why now for the 4%? Why sudden feeling for the people? This should reduce VAT then instead of busy making money.

Gamage Friday, 05 August 2016 05:15 PM

If that's what you want, present in the parliament and vote against it the least you can do. Unfortunately or fortunately all your actions are limited to "talks at temples". When was the last time you were present at parliament for a vote ? Don't forget your duty, you are a MP now, not president anymore.

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VAT Bill should not be passed: MR

Comments - 9

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