Amended VAT Bill presented to Parliament

The Value Added Tax (VAT) Amendment Bill was presented to Parliament by Higher Education Minister Lakshman Kiriella, a short while ago.

This is the second time the Bill is being presented to the House.

The amended VAT Bill includes an increase of tax on retail and wholesale outlets to Rs.50 million a year.

The new bill also imposes VAT on private health services with the exclusion of diagnostic tests, dialysis and OPD charges.

The tax will also be imposed on telecommunication services, tobacco products, powdered milk which contains added sugar and other sweeteners.