Sri Lanka Supreme Court suspends VAT hike
ECONOMYNEXT – Sri Lanka’s Supreme Court has suspended a hike in value added tax imposed on the people without parliamentary consent, in a landmark a case filed by a legislator.
A three judge bench headed by Chief Justice K Sripavan, suspended the tax until the final hearing of the case.
Opposition parliamentarian Wimal Weerawansa went to court against the value added tax.
It is not clear what the status of taxes already collected is and whether revenue authorities should refund them.
Under Sri Lanka’s tax law, individual customers are not showed the VAT. . (Colombo/July11/2016)