A Bill has been drafted by the legal draftsman to amend the Inland Revenue Act, No.24 of 2017, and the Value Added Tax Act, No.14 of 2002 in order to implement tax reforms adduced by the Economic Revival Origins presented to introduce a simple, transparent and an effective tax System as pledged by His Excellency President to the people and the tax revisions and policy decisions relevant to the budget proposals submitted by the 2021 budget. Clearance of the Attorney General has been received for the abovementioned acts and the Cabinet of Ministers approved the proposal tabled by Hon. Prime Minister as the Minister of Finance to publish this bill on the gazette and subsequently submit to the parliament.
New tax proposals have been approved by the Cabinet Ministers
