Opposition and Govt. Clash Over 18% VAT Increase and Removal of Exemptions

• Opposition and Government are vocal about the increase in VAT from 15% to 18% and removal of exemptions for nearly 100 items
• SJB Leader Sajith Premadasa criticizes the unjust VAT increase and blames Government inefficiency for the consequences
• State Minister of Finance Ranjith Siyambalapitiya believes the VAT increase will boost Government revenue by 1.2%
• SJB MP Harsha accuses Government of hiding VAT details from the public and calls for transparency
• 18% VAT will be charged on various items such as farmer’s loin cloth, mamotee blades, fertiliser, tea leaves, rubber, and copra

Source: ft.lk

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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