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| Wednesday, 4 February 2004 |
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by Nirushi Wimalaweera The Government has instructed the relevant authorities to apply the method used before December 01 last year in levying the Value Added Tax on Leasing of buses registered before January 01 this year. The amended VAT will apply only in case of leases in respect of buses registered after January 01. This procedure will remedy the anomaly of double taxation on leasing of private buses. Accordingly, the private bus owners have abandoned their bus strike intended to begin on February 06.The Government has also decided to reduce the prices of a few consumer commodities with effect from midnight yesterday. Fertilizer, Wheat flour, potato, B onion, red onion, dried chilli, dhall, milk powder and dried fish are the food items whose prices will come down this way. This is a sequel to the Government reducing the import duty payable in respect of these commodities. Accordingly, 450 grams of powdered milk by Rs. 5.00, and a kilo gram of red onion by Rs. 10.00, B onion by Rs. 8.00, potato by Rs. 2.00, dhall by Rs.2.00, dried fish by Rs. 3.00 and dried chilli by Rs. 12.00 will come down in price from today. Announcing the new prices, Deputy Finance Minister Bandula Gunawardena stated that in spite of the increase in prices of Wheat flour and fertilizer in the world market, Government decided to make available to the consumers these commodities at old prices. |
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