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Even India charges 18 percent GST from certain sectors: President
BY YOHAN PERERA AND AJITH SIRIWARDANA
Justifying the increase of the Value Added Tax (VAT) to 18 percent from next year, President Ranil Wickremesinghe told Parliament that even India charges 18 percent Goods and Services TAX (GST), especially from the IT sector.
“It is our policy to increase the VAT to 18 percent. Therefore, it should be imposed on all sectors. You cannot exempt some services and make other sectors liable,” the President said.
Some in the IT sector are shouting about the increase of VAT to 18 percent. However, they can survive even with an 18 percent VAT rate as most of them are export-oriented. Those in the IT sector who provide their services overseas are exempted from income tax. Therefore they can benefit,” he said.
Comments - 39
Comments - Even India charges 18 percent GST from certain sectors: President
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Mahesh Tuesday, 12 December 2023 02:41 PM
But India has an elected PM and President
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Herbert stewart Wednesday, 13 December 2023 09:36 AM
Perfect example of how a clever man also could become a stupid either intentionally or deliberately ... If u want to compare don't compare bits and pieces.. in india you could buy a suzuki car for less than 10 lakhs... Though there are are thieves there, They had no kamba horu paramaparawa coupled with pissek and boru rajapakse nikaya....
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Kanishka Tuesday, 12 December 2023 02:50 PM
If you are following Indian module on GST, then you should also follow India on personal income tax and reduce it. Also reduce the electricity tariff to be on par with India
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lalit Tuesday, 12 December 2023 03:05 PM
India don't charge 18 percent flat but there are slabs 5pct 12pct 18pct depend on item... Food is 5pct
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Amal Fernando Tuesday, 12 December 2023 03:18 PM
What an incapable leader who his passing every thing to poor citizens of this country for sins they have committed whilst in power in the past. A leader who couldn't do anything in the past now talking about turning around the economy by 2048. What a joke.
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BuffaloaCitizen Tuesday, 12 December 2023 03:24 PM
Okay, in that case you idiot why is Singapore then charging 8%. I can give you more countries that charge pretty less than 18% and many others who charge over 18%. So it is a lame stupidity of you to compare this with countries, because India and Singapore is in a much economical status than Sri Lanka whereas we are bankrupt arseholes like you give equally shitty reasons.
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Amal Tuesday, 12 December 2023 04:22 PM
Mr. Wickramasinghe must know it has inflow of foreign currency and it is IT, it can be done from anywhere. You may worry about it as compny can be registered in Europe and operate within weeks.
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Sleazy president Tuesday, 12 December 2023 05:24 PM
Keep hammering the small man to pay for the blatant stealing by your friends the Rajapaksas.
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Traitor president Tuesday, 12 December 2023 05:35 PM
Why don't you hand the country over to India? You are good at gifting our resources to other countries so why not the country?
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Lalith Tuesday, 12 December 2023 11:06 PM
Sensible suggestion.... But will india take up the broken country
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Ram Tuesday, 12 December 2023 05:36 PM
President's defence to justify his action on VAT increase citing India is the worse defence. I do what is best for my household and I do not follow my neighbour. That should have been the norm
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Hathurusinghe Tuesday, 12 December 2023 06:05 PM
20% VAT on luxury goods, like chocolate, super high octane petrol is good. 10% VAT on raw foods should be the maximum VAT, on raw foods.
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Golden Eggs Tuesday, 12 December 2023 06:10 PM
Dear President, IT sector gets a raw deal when APIT is charged on only those who have tax files, and not on those who have evaded opening tax files. Fairness and equality is a fundamental right that is violated. Improve the methodology adopted to get tax files opened. Give KPI's (targets) to a team at IRD to get highest deposit information from Banks and go behind them to open tax files.
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Suhada malli Tuesday, 12 December 2023 06:16 PM
It is really frustrating to see the president and the finance ministry officials taking the easy way out of increasing indirect taxes such as VAT which impacts all specially the poor, instead of expediting and expanding the tax net and implementing other types of taxes such as wealth tax which only impacts the rich. At a time when we need a statesman as the president we only have a politician (yet).
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Sam Silva Tuesday, 12 December 2023 06:30 PM
Mr. President You can't compare our small corrupted country to India or any other country We have a unique country !!!
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Bernard Jayatilake Tuesday, 12 December 2023 06:44 PM
Even a fool can understand that that Indian economy can withstand any increase in taxes as it is a developed country but to survive politically in the last stages of a political career one can impose more burdens on the people to please his henchmen.
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Rip Winkle Tuesday, 12 December 2023 07:08 PM
Man, are you aware your smart-ass comments and responses are so illogical and ridiculous that people laugh at you?
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Citizen Perera Tuesday, 12 December 2023 09:56 PM
SPOT ON !
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Maheepala Tuesday, 12 December 2023 07:24 PM
India is a much developed country than SL. If you want to compare with India, pls do so on all economic
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Karalasingam Sivalingam Tuesday, 12 December 2023 07:34 PM
India is an economic giant Indians per capita income is much higher than the Sri Lankans, starvation among Indians is a bygone era, Sri Lankans are pushed from poorer to poverty level, 20% of the population depend on one meagre meal, five to ten member families at the brink of collapse, this is theve conomic reflection/reality.
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Amaran Tuesday, 12 December 2023 08:30 PM
Is INDIA's Economic prosperity and Sri Lanka's Economic Prosperity same? Is INDIA's Inflation and Sri Lanka's inflation same?
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Dumber Tuesday, 12 December 2023 08:31 PM
President, please don't compare India with SL. Its like comparing apples to oranges. SL economy is a drop in the Indian Ocean.
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Haresh Tuesday, 12 December 2023 08:40 PM
Better hand it over. They will do a better job. What is the price comparison of Onions, potatoes, Rice, Medicine, Treatment, Hospitals you name it. Even educational qualifications, Unis what ever.
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VJ Tuesday, 12 December 2023 09:01 PM
Many countries charge GST, but the money is used to provide services to the people in return. Are you doing it for the same reason?
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Jana Duka Tuesday, 12 December 2023 09:07 PM
No matter how much the people suffer, these brutal rulers have no plan to increase the government's income except by taxing them and selling off the profit-making government institutions. How much people suffer for not being able to buy clothes, but these damn rulers always thought only of preserving their power. Tax income alone is not enough to develop a country, there is no plan to bring new foreign investments to the country and nothing to encourage the country's exports. Despite the people's suffering, the rulers show no intention of increasing government income except through taxation and selling profitable government institutions. The people struggle to afford clothes, while the rulers prioritize maintaining their power. Relying solely on tax income is insufficient for a country's development, and there is no effort to attract foreign investments or promote exports.
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Ram Tuesday, 12 December 2023 09:12 PM
In India, most of the items comes under 18%. Eating in restaurant comes under 5%. Luxury cars come under 28%. Sri Lanka can copy tax % from India, Online Goods and Service Tax (GST) system in India is working well. Approx $20 billion collected per month.
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Jayantha Tuesday, 12 December 2023 09:58 PM
Lol. This old grand father does not see the so called competiton issue. When the prices here goes up the customers will prefer services from other asian countries where cost is cheap. He will destroy the IT industry too just like how he robbed the cb with mahendran
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Fact Tuesday, 12 December 2023 10:28 PM
India has a highly sophisticated computerised GST collection system from the source to end user. Dummy invoices cannot be squeezed in the accounts to evade tax obligations as payment records through banking channels are also monitored. In Sri Lanka VAT invoices can be purchased for a commission. Moreover, most of the Pettah goods are brought into the country through informal money transfers. They depend on the Banks for a small percentage of foreign currency. Rest is Undial. Further, the basic food needs are much much cheaper than Sri Lanka. People are helping the Government with cashless transactions.
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Achchiamma Tuesday, 12 December 2023 10:58 PM
This is the unelected nincompoop. Find ways to braoden the tax base covering the tax evaders instead of asking those with tax files to bear the burden. People don't even realizec how big the indirect taxes they will be payongb until prices and costs skyrocket.
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Jeewaka Appadure Wednesday, 13 December 2023 03:47 AM
Dammath Lanuwak Naheta - Gona Yanne Adamaneta! A reason is this Pin Gona has no sense of humanity or any family life!
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Rishan Wednesday, 13 December 2023 04:54 AM
The issue is not tax rates but what do you provide to public in return???? Do you have sufficient medicines in government hospitals?
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Waco Wednesday, 13 December 2023 05:38 AM
Ranil the “ Pin-President who came to the seat through back door , should not have any power or Authority to change any thing in the Government. Where is the Democracy?
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Waco Wednesday, 13 December 2023 05:54 AM
Ranil can not rule the country. Therefore he wants to follow the neighbour. There are countries with VAT tax.
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Buddhist Wednesday, 13 December 2023 06:13 AM
Ranil has to charge 18% to keep his UNP Boys funded and also keep monkey politicians like Suresh supporting him.
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dana Wednesday, 13 December 2023 06:59 AM
You are indifference to suffering of public,why not collecting unpaid loans borrowed from state banks,why not collecting custom tax by politicians henchmen brought in questionable way,stop all sort of payments to MPs for next couple of months until election, if you can do, people compare you equally with NPP
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sam Wednesday, 13 December 2023 08:10 AM
India is another country. We need not follow other countries
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Samuel Wednesday, 13 December 2023 08:53 AM
Well done Ranil. You have carried us over the IMF line finally. You did it almost alone with many people who didn't understand finance airing theirs foolish views on economics . We've got the 2nd IMF tranche!
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Roy Wednesday, 13 December 2023 10:33 AM
Please understand we are Srilankan and not Indian and we don't need to follow what the Indian do and also you have no rights to impose any laws because you have been totally rejected by the people of Srilanka
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Nalin Perera Wednesday, 13 December 2023 01:27 PM
India has not overnight increased VAT to 18%. In fact they have three slabs starting from 5%, 12% and 18%. Increasing from 15% to 18% is bad enough but the increase from 0% to 18% is a knock out. It really is time for people to democratically oust this man.
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