Press briefing of Cabinet Decision taken on 2024-01-29 (Subject to Confirmation at the next Meeting)

Submission of the Gazette Notifications for the approval of Parliament

- The Cabinet approved the proposal made by the Hon. President, in his capacity as the Minister of Finance, Economic Stabilization and National Policies, to present the Order issued on 2023‑09‑21 imposing a tax of 10% on imported milk powder in terms of the provisions of the Ports and Airports Development Levy Act, No.18 of 2011 and the Order issued on 2023‑12‑19 in terms of the provisions of the Value Added Tax Act No. 14 of 2002 in relation to the increase of Value Added Tax from 15% to 18% with effect from 2024‑01‑01, for approval in Parliament, was approved by the Cabinet.