Value Added Tax to be increased from today

Value Added Tax to be increased from today

Value Added Tax to be increased from today

Written by Staff Writer

02 May, 2016 | 6:58 am

The Value Added Tax (VAT) will be increased to 15 % from today, May 2.

Several goods and services that were previously not included into the VAT system are now been included as well.

Thereby, Health and telecommunication sectors will also be included for subject to VAT.

Furthermore, the Ministry of Finance notes that the National Building Tax will remain unchanged at 2 %. Meanwhile, the All Ceylon Bakery Owners Association noted that price of bakery items would increase by around Rs.5.

 

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