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Cabinet approval to repeal SVAT from April 2025

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The Cabinet of Ministers has given the green light for a proposal furnished by President Ranil Wickremesinghe to revise the date to implement the provisions to repeal the simplified value-added tax (SVAT) to April 01, 2025.

The approval was given at the Cabinet meeting on Monday (Sept. 11).

The President, in his capacity as the Minister of Finance, Economic Stabilization & National Policies, has suggested that a proposal regarding the aforementioned revision be submitted to the committee stage of Value-Added Tax (Amendment) Bill when it is taken up for discussion in the parliament.

Previously, the Cabinet of Ministers had given the nod to submit to the parliament the draft bill prepared by the Legal Draftsman to revise the VAT Act No. 14 of 2022 including the repeal of SVAT scheme with effect from January 01, 2024.

However, the government says the representations made by relevant parties have pointed out that drastic issues are likely to emerge in finance flow in relation to individuals especially the exporters who have been registered under the system at present if the SVAT system is repealed without a strong VAT repayment system.

Therefore, it is apparent that it is appropriate to repeal the SVAT system step by step until a strong tax repaying mechanism is established, the government said further in a statement.

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2 drownings today

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Two drowning incidents have been reported today (May 13).

In one incident, one person had drowned while 03 others were reported missing while bathing in the sea off Wennappuwa today (May 13).

Police said four persons from Nuwara Eliya were reported missing while sea bathing and that one body was later recovered.

Search operations are continuing.

Meanwhile, two girls who had gone to bathe in the Palukadawala Tank in Galgamuwa, Kurunegala, have also drowned.

The girls, aged 12 and 17 had gone bathing while they were visiting a relative in the area.

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Police assure that belongings of Kotmale accident victims are safe

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Kotmale Police have stated that luggage, mobile phones and other belongings of the passengers on the bus that met with a tragic accident at Gerandi Ella are safe with them/

Kotmale Police OIC Chief Inspector Vajira Ratnayake stated that the villagers who assisted authorities at the time of the accident handed over the passengers’ belongings to the Police.

The OIC also stated that 35 mobile phones, luggage and other valuables have been kept safe at the police station and can be obtained after the identities of the claimants are verified.

Meanwhile, it is reported that the bus conductor’s ticket book and the money he had collected could not be found.

The OIC had also stated that the exact number of passengers on the bus could not be ascertained due to the death of the driver and the fact that the conductor was receiving treatment in hospital.

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PSL 2025 to resume on May 17

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PSL 2025 will resume on May 17, with the final on May 25. The announcement confirms the league will end a week after it was originally scheduled to conclude.

The four remaining group games will take place at the Rawalpindi Cricket Ground, with the playoffs and final in Lahore. Aside from one afternoon game in Rawalpindi – between Multan Sultans and Quetta Gladiators on 18 May, all fixtures take place at night, with evening games starting at 7:30pm local time.

“HBL PSL X picks up from where it left off,” he wrote in the post,” PCB chairman Mohsin Naqvi announced on X (formerly Twitter). “6 teams, 0 fear. Get ready for 8 thrilling matches starting 17th May, leading up to the Grand Final on 25th May. Best of luck to all the teams!”

The league, which was postponed due to increasing cross-border tensions with India, has eight games left.

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New IPL schedule announced

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