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VAT exempted from electricity and medicines - Yapa
Apr 20, 201601:55 PM
The Value Added Tax (VAT) has been exempted from electricity and medicines, State Minister Lakshman Yapa says.
The observation was made while speaking at a press conference held in Colombo today (20).
The State Minister also added that discussions are underway not to increase proposed 4% VAT on water bills.
The VAT is scheduled to be increased from 11% to 15% with effect from May 02, 2016. In March, Prime Minister Ranil Wickremesinghe in Parliament announced that VAT will be hiked and said the government will impose a capital gains tax as well.
