The Value Added Tax (VAT) is scheduled to be increased to 15 % from 2 May, the Finance Ministry announced. VAT will be imposed on several sectors including telecommunication.
Earlier, Prime Minister Ranil Wickremesinghe addressing the Parliament stated that the Value Added Tax (VAT) will be increased to 15%, while the Nation Building Tax (NBT) will stay unchanged.
The Prime Minister further added that such an increase was necessary to face Global Economic changes.(CDN)
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