News
No water, electricity, telephone bill price hike
25 Nov, 2015
The Ministry of Finance says with the amendment of the VAT tax system?there will not be an increase in the price of water, electricity or telecommunication services.
Through the 2016 budget, the VAT tax was amended to a three tier system ranging from zero?percent to 12 percent as opposed to the fixed 11 percent.
Accordingly, the Finance Ministry says, most essential items will fall under the zero VAT system.
Finance Minister Ravi Karunanayake said?water, electricity and telecommunication will fall under the?zero VAT system.
He said that VAT cannot be charged from consumers for water, electricity and?telecommunication services and so there cannot be a price hike on the three items. (Colombo Gazette)
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