Press briefing of Cabinet Decision taken on 2019-08-13

Finance (Draft) Bill - 2019

- The proposal made by the Minister of Finance to present the Finance (Draft) Bill in Parliament to amend the Finance Act, No.35 of 2018 to give effect to the amendments including the revenue proposals in the Budget for the amendment of the definition of 'Specified Motor Vehicle' for applicability of the luxury tax on motor vehicles excluding passenger transport vehicles like vans, single cabs, double cabs, motor cycles, motor tricycles, three wheelers, and motor lorries, tractors, hand tractors, trailers for transport of goods, and motor ambulances, motor hearses and to levy on payment on foreign commercial transaction to be charged at the rate of 3.5% on credit or debit card payments made to purchase goods or services from outside Sri Lanka, was approved by the Cabinet.