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VAT Amendment Bill approved by Parliament
By Yohan Perera and Ajith Siriwardana
Colombo, April 9 (Daily Mirror)- The Value Added Tax (VAT) Amendment Bill which seeks to rectify certain shortcomings of the VAT was unanimously approved by Parliament today.
The government claimed that the Bill seeks to waive VAT levied for those who earn less than Rs 150,000 as interest for their deposits while VAT charged from eggs will be lifted. Only egg producers who earn more than Rs. 5 million per month will be subjected to VAT as per the amendment.
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