A request from President Ranil Wickremesinghe to move the effective date of the measures to repeal the simplified value-added tax (SVAT) to April 1, 2025, has been approved by the Cabinet of Ministers.
On Monday, September 11, the Cabinet meeting approved the request.
The Head of State has advised that a proposal for the aforementioned adjustment be submitted to the committee stage of the Value Added Tax (Amendment) Bill when it is brought up for discussion in the parliament in his capacity as the Minister of Finance, Economic Stabilisation & National Policies.
