Sri Lanka Cabinet Approves Changes to Value Added Tax

Sri Lanka’s cabinet approved changes to the value added tax law, following clearance by the nation’s Attorney General and in accordance to an International Monetary Fund bailout program.

• The cabinet also gave its consent to seeking interest from international suppliers for 200 electric buses to be operated in the Western province of the island, spokesman Bandula Gunawardana said
  • Earlier, the govt had sought interest for operating 50 buses
  • The buses will be operated in partnership with state-run Sri Lanka Transport Board in a Build-Operate-Transfer project
• The cabinet also endorsed a plan to simplify procedures for issuing visit and resident ...