11% VAT from today

While respecting yesterday’s Supreme Court order given preventing the implementation of the recent revisions made to the Value-Added Tax (VAT) and Nation Building Tax (NBT), Finance Minister Ravi Karunanayake said no tax increase could be charged with effect from today (12) until the parliament approval is given possibly on July 23.

Accordingly, only the 11 per cent VAT would be charged for goods and other services until Parliament approved the tax increment on July 23, he said. (Lahiru Pothmulla)

Pix by Pradeep Pathirana