Sri lanka News – Sri Lanka’s Supreme Court has determined that the Value Added Tax (Amendment) Bill is, as a whole, not inconsistent with the Constitution subject to proposed amendments, Speaker Mahinda Yapa Abeywardena said.
The Speaker informed parliament Thursday November 10 morning that, according to the apex court’s verdict, the bill will be in line with the constitution if the amendments recommended by the Deputy Solicitor General are moved at the committee stage.
The proposed amendments are:
1. Clause 3
The insertion of the following proviso in Section 10(1)— “Provided further, for the purposes of paragraph (vii), the requirement for the registration shall raise from the date on which this Amendment Act comes into operation.”
2. Clause 4(1)
The reference to “September 30, 2022” to be deleted and substituted with “November 30, 2022”.
3. Clause 4(2)
The reference to “October 1, 2022” to be deleted and substituted with “December 1, 2022”.
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