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Sri Lanka expected to pass VAT bill by end July: Prime Minister

ECONOMYNEXT – Sri Lanka’s administration expects to pass changes to value added tax in parliament by the end of the month, Prime Minister Ranil Wickremesinghe said in a statement after the Supreme Court suspended tax changes made on May 02.

"The interim order is not expected to have any adverse impact on the government revenue," Prime Minister Wickremesinghe said in a statement.

"The unity government which has a clear majority in parliament expects the legislative process to be completed before the end of the month of July 2016.

"The revised rates will be applicable with effect from May 02."

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