The Supreme Court’s determination on the Value Added Tax (VAT) bill will be announced by Speaker Karu Jayasuirya to Parliament on Tuesday.  The court sent its ruling on the bill to Parliament this week. Several petitions were filed in the Supreme Court, seeking a ruling that the bill should become law only after it is [...]

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VAT bill: Speaker to announce SC ruling on Tuesday

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The Supreme Court’s determination on the Value Added Tax (VAT) bill will be announced by Speaker Karu Jayasuirya to Parliament on Tuesday.  The court sent its ruling on the bill to Parliament this week.
Several petitions were filed in the Supreme Court, seeking a ruling that the bill should become law only after it is passed in Parliament by a two-thirds majority and approved by the people at a referendum.

Among other matters, the petitioners challenged the provisions that allows the Government to increase the VAT from 11 percent to 15 percent with retrospective effect from January 1, 2016.
The debate on the VAT Bill is scheduled for Wednesday and Thursday.

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