VAT to be revised not repealed: Ajith Perera

7 July 2016 03:11 pm

The Value Added Tax (VAT), which had been increased up to 15 percent from 11 would not be repealed but alterations would be done to justify the increment, Deputy Minister Ajith P. Perera said today.

Addressing a media briefing Mr. Perera said it was impractical to abolish VAT and the Government was on its way to proceed with the alterations in the tax in order to offer relief to the people.

“At present, the increment of VAT has been interpreted as an unusual concept of ‘Good Governance’ by anti-government forces. But I would like to clarify that, VAT is a world known concept, and has prevailed for many years. VAT is a first-rated and practical tax. If somebody interpreted VAT as an ominous tax that person is not aware of the real concept behind VAT,” he added. (Kalathma Jayawardhane)

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