Sri Lanka’s Supreme Court says bill to raise VAT rate from 12 to 15% not inconsistent with Constitution

Sri Lanka’s Supreme Court in its determination on the Value Added Tax (Amendment) Bill noted that subject to the amendments being moved at the Committee Stage of Parliament as proposed by the learned Deputy Solicitor General, the Bill as a whole is not inconsistent with the provisions of the Constitution. Two petitioners had challenged the bill, which aims to raise the VAT rate to 15% from 12% and broaden the base, calling it unconstitutional

Sources:

• bloombergtax.com
• newsfirst.lk

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