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Interim order by Supreme Court suspends VAT increase


VAT ,colombo,Supreme Court

The Supreme Court on Monday issued an interim order to suspend the Value Added Tax (VAT) increase.

The Supreme Court issued the order after considering a petition filed seeking an order to revoke the decision to increase VAT.  The petition was filed by an attorney representing three persons including National Freedom Front leader Wimal Weerawansa.

The VAT was increased from 11% to 15% with effect from May 2nd. Several protests were organised by the traders across the country over the past few days against the decision to increase VAT.