Parliament approves Sri Lanka's much delayed VAT bill
Oct 26, 2016 19:03 PM GMT+0530 | 0 Comment(s)
ECONOMYNEXT - ECONOMYNEXT - Sri Lanka's parliament Wednesday approved the controversial bill to amend the Value Added Tax with 112 members voting for and 46 against. Sixty five members were absent.
Deputy Speaker Thilanga Sumathipala told the assembly that the amendment bill was now approved and will become law as soon as Spreaker Karu Jayasuriya gives his assent.
The Supreme Court informed parliament Tuesday that the bill was not inconsistent with the constitution. The Rajapaksa faction of the opposition had challenged the VAT bill which was once shot down because it was not properly introduced in parliament.
Sri Lanka earlier tried to slap the tax on a 'minister's prerogative' an unconstitutional and undemocratic practice was halted by court.
Critics say Sri Lanka's parliament had become a rubber stamp to the finance minister and Treasury mandarins who slap tax by midnight gazette. (COLOMBO, October 26, 2016)