Friday, 17 May 2024
Approving VAT, a challenge for PM

Approving VAT, a challenge for PM

Passing the Act paving amendments for the Value Added Tax (VAT) has proven to be a challenge for Prime minister Ranil Wickremesinghe, political sources say.

This has proven to be challenging after the SLFP led by President Maithripala Sirisena has opposed amendments to the VAT.

Regardless, the SLFP is expected to consent to this anyway as economists are of the view that the entire economy could collapse if VAT amendments are not introduced.

Meanwhile, it is said that many fields are facing a dilemma after the Supreme Court today (11) issued an interim order to suspend the VAT increase.

This is because they were asked to do what they liked after inquiries were made from the Finance ministry whether the VAT increase should be added or not.

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