1 January 2024 07:46 pm Views - 624
Addressing the media, he said VAT is a complex topic, and it should be explained to the people who have taken it for granted.
However, everything is in place to issue all gazette notifications relating to VAT by Thursday (4), he said.
"This discussion should be open to the public for them to raise their issues as well. As the Finance Ministry, we are ready to discuss this topic with the people. Some people assume that the price of petrol and diesel will increased by a huge amount, but the government identified this situation and managed by imposing other taxes," he said.
"There will be a slight increase in all consumer items after imposing the new VAT, but it is very clear that VAT has not been added to some goods. Some people have given the wrong interpretations about it, and as the Minister, I am ready to clarify it," Minister Siyambalapitiya said.
"Rice, rice flour, infant milk powder, wheat, wheat flour, bread, medicine, ayurvedic medicine, transport services, education services, burials, and cremations, and medical equipment like crutches do not come under the VAT," he said while adding that the government is working to reduce the prices of goods through certain other methods by identifying everything.