The government on the 2nd of May decided to increase the Value Added Tax or VAT from 11% to 15%.
Accordingly, the government currently charges an 11 per cent VAT.
Petitions were filed by several parties including the National Freedom Front over the VAT amendment.
The Supreme Court issued an interim order preventing the government from implementing the 4 per cent revision to the Value Added Tax.
On the 11th of July the Supreme Court heard five petitions filed by several factions including a fundamental rights petition filed by the National Freedom Front against the VAT.
The petition was filed claiming the VAT increase came into effect without the consent of Parliament deeming the increase illegal. Accordingly, the petition called for an order to suspend the VAT increase.
However, the final decision by the Supreme Court has now been directed to Speaker, Karu Jayasuriya.
The decision is expected to be announced in Parliament today. The debate on the VAT Bill is scheduled for tomorrow and Thursday.
Speaker of House Karu Jayasuriya is due to announce the Supreme Court verdict over the Value Added Tax amendment in Parliament today.
