VAT amendment bill presented to parliament for first reading: PM Wickremesinghe

VAT amendment bill presented to parliament for first reading: PM Wickremesinghe

VAT amendment bill presented to parliament for first reading: PM Wickremesinghe

Written by Staff Writer

11 Jul, 2016 | 7:14 pm

Prime Minister Ranil Wickremesinghe issued a statement noting that the interim order issued by the Supreme court is not expected to have any adverse impact on the government revenue collection.

He went on to note that the VAT amendment bill has already been presented to Parliament for the first reading on July 8, 2016 and the second reading is expected on July 23, 2016.

He concludes that the Unity Government which has a clear majority in parliament expects the legislative process to be completed before the end of the month. He stated that thereafter the revised rates will be applicable with effect from May 2, 2016.

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