Budget proposal on VAT for wholesalers and retailers comes into effect

Budget proposal on VAT for wholesalers and retailers comes into effect

Budget proposal on VAT for wholesalers and retailers comes into effect

Written by News 1st

01 Jan, 2014 | 4:30 pm

The Inland Revenue Department says that all wholesalers and retailers with a turnover of 250 million rupees need to pay VAT.

Commissioner General of the Inland Revenue, Mallika Samarasekara said that this will be implemented in accordance with a budget proposal. However, she said that there will be no great impact on the prices of commodities.

Meanwhile, several taxes proposed by the budget will be imposed from Wednesday. The nation building and the telecommunication levy are among these taxes.


Are you interested in advertising on our website or video channel
Please contact us at [email protected]