The government has proposed to impose Value Added Tax (VAT) for items that previously had not been taxed, Opposition MP Harsha de Silva alleged.
Addressing the Parliament today (Nov 16), the MP said the Budget 2024 proposes the Value Added Tax to be increased from 15-18%.
He further said VAT will now be imposed on previously untaxed items, pointing out that VAT will be imposed on fuel, gas, and fertilizer as well.
MP Harsha de Silva said that as per the Budget 2024, VAT will be imposed on 100 items that were not previously taxed, such as electronic equipment including mobile phones and computers.
“The budget 2024 proposes to impose VAT on all medical equipment. VAT will also be imposed on several other items such as national software, tea leaves, and latex. However, the President did not mention any of this during his budget speech,” the MP pointed out.
MP Harsha de Silva said he believes this is an unfair move, adding that the public must be made aware of how the VAT will be imposed and collection of money. (NewsWire)
"If the Salary is increased by Rs 100 & taxes will be increased by Rs 600"
MP Harsha de Silva says VAT will be imposed on 100 items that were not previously taxed, such as electronic equipment including mobile phones and computers. pic.twitter.com/k8egMOHgzr
— NewsWire 🇱🇰 (@NewsWireLK) November 16, 2023
