Seesawing from one tax to another

1 December 2015 06:30 pm

A political bigwig wanted to re-introduce the BTT in place of the VAT through the recent yahapalanaya annual budget. 


However, the world’s highest monetary body immediately frowned on this fiscal policy change and warned the yahapalanaya top brass to brace for repercussions if they (the latter) opted for the obsolete BTT system. 

Highly perturbed top authorities here went into emergency deliberations following this warning and decided at the eleventh hour to go back to the VAT formula, they say.