Nov 21, 2020

New tax from Jan : liquor & cigarette prices to go up Featured

The government has decided to impose a new Goods and Services Tax (GST) applicable to arrack, cigarettes, beer and telecommunications services, betting and gambling and motor vehicle business.

The tax proposal was included in the budget speech presented by Prime Minister Mahinda Rajapaksa to Parliament recently.

When inquired about this from the Ministry of Finance, a senior spokesperson said that the new tax will be effective from next January.

The spokesperson said that although the tax rates have not been decided yet, it will be announced soon.

He added that the purpose of the amendment was to impose a single tax on these goods and services instead of the current number of taxes.