Sri Lanka Top Court Upholds VAT Bill, Suggests Tweaks

Sri Lanka’s Supreme Court has ruled that a bill to amend the country’s value added tax law is consistent with the constitution, while suggesting that implementations of two provisions be delayed, according to Parliament Speaker Mahinda Yapa Abeywardana.

• NOTE: Two petitioners had challenged the bill, which aims to raise the VAT rate to 15% from 12% and broaden the base, calling it unconstitutional

To contact the reporter on this story:
Asantha Sirimanne in Colombo at asirimanne@bloomberg.net

To contact the editors responsible for this story:
Anusha Ondaatjie at anushao@bloomberg.net

Devidutta Tripathy

© 2022 Bloomberg L.P. All rights reserved. Used with ...