New 15 percent VAT to come into effect from November

27 Oct, 2016

The 15 percent Value Added Tax (VAT) and the Nation Building Tax will come into effect from November 1, the Ministry of Finance said.

The VAT Amendment Bill was passed by Parliament yesterday.

The Bill was passed with 76?Parliamentarians voting for the Bill and 23 against it during the third reading in Parliament today.

The Finance Ministry said that while Milk Food has been brought under the VAT net there is no change in the selling price as it has already been brought under Price Control.Further though the 2 %? NBT? is included to the Electricity it will not be passed on to the consumer as the CEB will absorb it into their expenses. (Colombo Gazette)

Recommended For You

Motorcycle parade suspended after public outcry

A motorcycle parade held from Kalpitiya to Anuradhapura has been suspended following public outcry. The Police said that the parade was given Police approval as it was for a charitable cause. According to the Police, the motorcycle parade obtained conditional approval. Organized by the ?Spin Riders Club?, the parade saw several motorcycles racing along the streets with a number of other vehicles. A group of people, including some monks, blocked the parade yesterday and expressed opposition t

18 Mar, 2022

SJB distances itself from Rajitha’s son

The Samagi Jana Balawegaya (SJB) has distanced itself from Chathura Senaratne, son of SJB member Dr. Rajitha Senaratne. Chathura Senaratne was seen at the SJB protest staged in Colombo yesterday. “He is not a member of the?@sjbsrilanka?and does not hold any position in the party. He joined the protest with his father,” SJB member Rehan Jayawickreme tweeted. Chathura Senaratne contested the last election from the SJB and lost. (Colombo Gazette) Just when I thought I?d seen it all, this happen

16 Mar, 2022

Matara Pradeshiya Sabha Chairman granted bail

The Chairman of the Matara Pradeshiya Sabha, Wimal Priyajanaka, was arrested and later granted bail. He was arrested over an alleged arson incident targeting a residence in the Kekanadura area. Priyajanaka was produced before the Matara Magistrate Court and released on two personal bonds of Rs. 200,000 each. (Colombo Gazette)

16 Mar, 2022

Colombo Gazette is a leading news and entertainment website, covering stories related to Sri Lanka. The content consists of text based news, photos and videos and is linked to social media websites including Facebook, Twitter and Instagram, to provide a wider coverage for its stories.