The Supreme Court of Sri Lanka has determined that the Value Added Tax (VAT) Amendment Bill is inconsistent with the Consitution of Sri Lanka, Speaker Mahinda Yapa Abeywardena announced today (10).
Addressing the Parliament, he said that, however, it could be moved with the required amendments.
As per the Supreme Court determination, under Clause 3, the insertion of the following provisions in Section 10 (01), “provided further for the purpose of paragraphs 06 and 07, the requirement of the registration shall raise from the date on which the Amendment Act comes into operation.”
Secondly, under Clause 4 (01) the reference to 30th September 2022 is to be deleted and substituted with 30th November 2022, the Speaker said.
He further said that under Clause 4 (02), the reference to 01st October 2022 is to be deleted and is to be substituted with 01st December 2022.
The bill was presented to Parliament by Prime Minister and Public Administration, Home Affairs, Provincial Councils, and Local Government Minister Dinesh Gunawardena. (NewsWire)