Entity-based and technology-specific taxes approved by Sri Lanka Parliament

Posted on October 21, 2015  /  0 Comments

When these misguided taxes were proposed back in January in the interim budget, I protested. An example is here. They could not get the bills passed in the previous Parliament. It was the Ceylon Chamber of Commerce that labeled them as entity-based. But now they are through. Wrong then; wrong now.

The Resolution under the Local Treasury Bills Ordinary and six Financial Bills were passed in Parliament yesterday without a vote.

The resolution was to raise the ceiling of borrowing by another Rs 400 billion by the issue of Government Treasury Bills.

The six Financial Bills were to amend the Finance, Inland Revenue, Value Added Tax, Nation Building Tax, Economic Service Charge and Betting and Gaming Levy Acts to facilitate the interim budgetary proposals made in January.

The Amendments to the Finance Act provide for the imposition of the Bars and Tavern Levy, Casino Industry Levy, Super Gains Tax, Mobile Telephone Operator Levy, Direct-to-Home Satellite Services Levy, Satellite Location Levy, Dedicated Sports Channel Levy, Mansion Tax, Migration Tax and Motor Vehicles Importer Licence Fee.

– See more at: http://www.dailynews.lk/?q=political/six-financial-bills-passed-without-vote#sthash.WBBsCQeS.dpuf

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