News Just In:VAT will not affect electricity, medicine and water

News Just In:VAT will not affect electricity, medicine and water

News Just In:VAT will not affect electricity, medicine and water

Written by Tharushan Fernando

20 Apr, 2016 | 12:33 pm

State Minister of finance Lakshaman Yapa Abeyawardena says that the recent increase in value added taxes will not affect the concessions granted through the budget.

Announcing the decisions that were made at the Cabinet meeting held on Wednesday, April 20, State Minister of Finance, Lakshaman Yapa Abeyawardena further stated that a collective decision was reached not to impose VAT on electricity as it would have a direct impact on consumers

The State Minister emphasised that VAT will not be imposed on medicine, but noted that VAT will be imposed on private healthcare facilities

He further added that Sri Lanka cannot maintain a 100 percent welfare economy, because State revenue has dropped, and if this situation continues, the government will be will not be able to pay salaries of government workers in a few year.s

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