VAT won’t apply to water, electricity or telephone bills

25 November 2015 08:17 am Views - {{hitsCtrl.values.hits}} 7 Bookmark

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Finance Minister Ravi Karunanayake said the newly amended Value Added Tax (VAT) system would not be applicable to utilities such as water, electricity and telecommunication.

He said the consumers would not be liable to pay VAT or any increased charges for those services.

The 11 per cent VAT has been classified as 12.5 per cent and 8 per cent by the budget with the wholesale and retail trade has been totally exempted from it.

Repealing the 11 per cent VAT on the wholesale and retail trade should result in the reduction of prices of all commodities in addition to the prices of essential goods reduced by the Budget, the Finance Ministry said.

Comments - 7

tax Wednesday, 25 November 2015 02:12 PM

Then what is the increased VAT applicable to. via DM Android App

1 12

Sincere Wednesday, 25 November 2015 02:26 PM

OOh you caused a big heart attack to MR cronies!

4 21

Hon. Arnolis Wednesday, 25 November 2015 02:34 PM

Increasing the import duty for electric vehicles is a stupid move. Most of the electric vehicle users also install solar panels, which makes a huge saving to the Sri Lankan economy. It is even more stupid to increase the cost of transport and transport equipment to reduce the number of vehicles on the road. This will only slow down the economy and make every thing more expensive and make Sri Lankas products too expensive for world markets. Anyone with a common sense knows the best and only way to reduce the number of vehicles on the road is to have a decent public transport system unlike the present private buses where you have to put up with stinky underarms on your face!!

1 45

Sapu Wednesday, 25 November 2015 03:00 PM

The govt will never increase taxes on Water ,electricity or communications becuase its suicide

1 13

Fire Wednesday, 25 November 2015 04:33 PM

Until vote get to approve YAMAPALANA budget

8 6

Ryan Wednesday, 25 November 2015 08:47 PM

To all who voted ms , ohoma wela madi thopita

17 9

Sincere Wednesday, 25 November 2015 10:24 PM

Yes, we agree with you Hon. Sir. The Finance Minister and those who prepared the budge are not intelligent as you.

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