VAT Amendment Bill in Parliament Today
VAT amendment bill was presented to the cabinet on 13th of September 2016. VAT increase act came into operation with effect from 2nd May 2016. But National Freedom Front has filed in a action in the court stating that the VAT amendment act as not fulfilled the professions of the constitution in Srilanka. The court ruled that it has not been passed in Parliament in accordance with the constitution and advised to submit it to the Parliament in the proper manner.
VAT amendment bill is now approved by the cabinet, The proposed Value Added Tax amendment bill will be tabled in Parliament today (4).
