Press briefing of Cabinet Decision taken on 2020-01-08

Implementation of New Tax Proposals

- Relevant Tax Laws are required to be amended in order to give effect to the tax policy proposals in the Economic Revival Initiative Programme approved by the Cabinet previously. Accordingly, the proposal made by the Minister of Finance, Economy and Policy Development to publish the Nation Building Tax (Amendment) Bill, the Ports and Airports Development Levy (Amendment) Bill, the Economic Service Charge (Amendment) Bill and the Value Added Tax (Amendment) Bill prepared by the Legal Draftsman, in the Government Gazette and present the same thereafter in Parliament for approval, was approved by the Cabinet.