Five Gazettes to be presented to Parliament for approval were considered in the Committee on Public Finance recently and approval was given for four of them. This approval was given after an analysis of the relevant Gazettes at the Committee on Public Finance which met under the chairmanship of MP (Dr.) Harsha de Silva on Oct. 20th.
The three Gazettes approved are the Gazette No. 2282/26, which is stipulated under the Value Added Tax Act No. 14 of 2002 as amended by Act No. 6 of 2005. This Gazette was published in relation to increasing the value added tax (VAT) to 12%.
The regulation under the Excise Ordinance published under the Extra Ordinary Gazette No. 2277/62 is in relation to charging a tax of Rs. 50 for a litre of toddy.
The regulation under the Finance Act No. 25 of 2003 published under the Extraordinary Gazette No. 2272/53 is to reduce the fee charged on each person departing from Ratmalana Airport to an amount of USD 30.