INSUBCONTINENT EXCLUSIVE:
The Bill to amend the Value Added Tax Act No
chaired by Member of Parliament Anura Priyadarshana Yapa at the Parliament complex on Tuesday (22).This Bill has been prepared to implement
the tax policy proposals mentioned in the Cabinet Paper No
MF / FP / 32 / CM / 2021/212 dated 14th December 2021.Accordingly, the Value Added Tax on the provision of financial services will be
equipment, machinery and pharmaceutical donations made to Government Hospitals and the Ministry of Health in the event of any epidemic or
public emergency.The tax amendment bill will be presented to Parliament on the 24th.Members of the Committee on Public Finance were of the
view that a proper economic analysis should be done on any reduction or increase in the tax collection process in the country, the release
said.The Committee on Public Finance also approved the Agreement between the Government of the Democratic Socialist Republic of Sri Lanka
and the Government of the Republic of Turkey for the avoidance of double taxation and prevention of tax evasion with respect to taxes on
income.State Ministers Nalaka Godahewa, Kanchana Wijesekera, Members of Parliament Dilan Perera, (Prof.) Ranjith Bandara, Nalin Fernando,
(Dr.) Harsha de Silva, Suren Raghavan, Mujibur Rahman, Isuru Dodangoda and a group of officials from the Ministry of Finance were present at
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