INSUBCONTINENT EXCLUSIVE:
The National Book Traders Association says that the price of printed books has actually increased by 20% due to the imposition of Value
Added Tax (VAT) and Nation Building Tax (NBT)
Sri Lanka Book Publishers Association President, Samantha Indeewara, made this declaration while speaking at the annual anniversary occasion
of the National Book Traders Association.The price of a book has actually increased by 20%, or about one-fifth
The officials are confusing the problem
Formerly, there was a 15% VAT on products like stationery, but there was no VAT on printed books
Thats what directly changed from 0% to 18%
Stationery formerly had just 3% VAT
They are blending these 2 categories.He even more kept in mind that about a month back, a letter was received from the Presidential
Secretariat mentioning that they are conducting an analysis regarding VAT and will supply a response later.Gamini Moragoda, the Patron of
the National Book Traders Association, likewise revealed his views to the media on the matter: A VAT that is not levied in any other nation
on the planet is being troubled our books
The intro of this tax, which had not existed in Sri Lanka for 75 years, starting in January 2024, is ruining the book industry
If this continues, a child will not have the ability to afford a book in the future.
