President advises authorities to ensure public benefit from the tax concessions

COLOMBO (News 1st) - The President has instructed officials to ensure that the recent tax cuts are implemented. President's office in a release says Presidential Secretariat continues to receive complaints from the general public as well as reports from both print and electronic media that the tax benefits, particularly from the reduction of VAT on the sale of goods at both retail, wholesale and import points effective from 1st December 2019, have not passed on to the consumers. The release adds that the President has instructed the Consumers Affairs Authority and Inland Revenue Department to closely monitor this situation and also urged the business community, importers, manufacturers, wholesale and retail distributors to ensure full benefit of tax reduction is passed onto the consumers and general public.