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Amendments to the existing tax system tomorrow
Jul 03, 201612:47 PM
Taking into consideration the difficulties faced by the general public due to the enforcement of new tax systems, steps will be taken tomorrow to make amendments to the existing tax systems, it was reported.
The VAT was increased from 11% to 15% with effect from May 02, 2016.
Many shop owners in several districts across the country had closed their shops and staged protests against the decision to increase the Value Added Tax (VAT). Daily activities in these areas were also affected with the closure of most shops.
President Maithripala Sirisena has also assured to to make amendments to the existing tax systems to provide relief to the public.
