“The Unity government, which has a clear majority in the Parliament, expects the legislative process to be completed before the end of the month of July 2016,” Wickramasinghe said. Thereafter, the revised rates will be applicable with effect from 02 May 2016.
VAT increase will apply after Parliament approval
The Supreme Court’s interim order issued today suspending VAT increase is not expected to have any adverse impact on the government’s revenue collection, Prime Minister said.
Releasing a statement Prime Minister Ranil Wickramasinghe said the VAT (Amendment) Bill has already been presented to the Parliament for the first reading on 08 July 2016, and the second reading is expected on 23 July 2016.
“The Unity government, which has a clear majority in the Parliament, expects the legislative process to be completed before the end of the month of July 2016,” Wickramasinghe said. Thereafter, the revised rates will be applicable with effect from 02 May 2016.
“The Unity government, which has a clear majority in the Parliament, expects the legislative process to be completed before the end of the month of July 2016,” Wickramasinghe said. Thereafter, the revised rates will be applicable with effect from 02 May 2016.
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