The Cabinet of Ministers has granted approval to reduce the Value-Added Tax (VAT) threshold. In line with this decision taken on Monday (11), the VAT registration...
By Saman indrajith Parliament session allotted for the Second Reading debate on the Value Added Tax (Amendment) Bill and the Finance Bill were put off yesterday...
Monday 11th December, 2023 Yesterday’s parliamentary session had to be adjourned until today for want of a quorum. While the VAT (Amendment) Bill was being debated,...
The economy is very likely to contract in 2024 due to government policies and it is unlikely that the authorities will be able to collect the...
By Shamindra Ferdinando Senior Director of Customs Seevali Arukgoda strongly defended Customs Officers’ Management and Compensation Fund (COMCF) taking 70% of total penalty imposed on public...
The Committee on Public Finance (COPF), at a recent meeting, requested the Ministry of Finance to consider VAT exemptions for medical equipment, ambulances, high-protein agro foods...
The Committee on Public Accounts (COPA) recently questioned the Inland Revenue Department (IRD) whether the government received the VAT (Value Added Tax) paid by the public for...
LBO –The Ceylon Chamber of Commerce raises concerns regarding the proposed increase of the Value Added Tax (VAT) to 18%. While recognising the government’s commitment to...
ECONOMYNEXT –Opposition and SJB leader Sajith Premadasa has accused the government of shrinking the economy through its proposal to increase value added tax (VAT) to 18...
The Cabinet of Ministers granted concurrence to the resolution forwarded by the Minister of Finance, Economic Stabilization and National Policies to remove most of the releases...