Press briefing of Cabinet Decision taken on 2021-03-23

Proposed Special Goods and Services Tax Act

- Budget proposals for the year 2021 pointed out the necessity of expediting the process of tax collection by introducing a Special Goods and Services Tax Act. Under the provisions to be imposed by the proposed new Act, it has been planned to make more simpler the charging of Goods and Services Tax relating to the fields of alcohol, cigarettes, vehicles, telecommunication and betting. Accordingly, the proposal made by the Hon. Prime Minister in his capacity as the Minister of Finance to instruct the Legal Draftsman to draft the Special Goods and Services Tax Bill, was approved by the Cabinet.