Hurray ! Now they say No increase of BTT and NBT

Chinwi · 1 Hurray ! Now they say No increase of BTT and NBT Wed Jan 13, 2016 10:59 pm

Chinwi

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NOW THEY SAY :

The amendments proposed to Value Added Tax (VAT) and Nation Building Tax (NBT) Proposed in the Budget 2016 would not be implemented until the relevant legislative enactments were passed by Parliament, Finance Ministry yesterday said in a statement.

However proposed exemption of deemed VAT on wholesale and retail trade would come to effect from January 01, 2016, considering its impact on cost of living, the statement noted.

Further, vehicle importers who have imported motor vehicles for personal use on letter of credits (LCs) opened before Budget 2016 are permitted to be cleared from the Customs by paying the duties under the rate prevailed at November 20, 2015 without paying any demurrages, it added. -

http://www.dailymirror.lk/102863/govt-backtracks-on-nbt-vat-revisions#sthash.OeVApLNW.dpuf

: a hell of a Balancing !

wisdom78 · 2 Re: Hurray ! Now they say No increase of BTT and NBT Wed Jan 13, 2016 11:07 pm

wisdom78

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Ha ha haaaa now everything clear I am mad mad mad. Hit me harder into my head as I am a fool and a mad joker. jocolor

:Deleted:

Teller · 3 Re: Hurray ! Now they say No increase of BTT and NBT Thu Jan 14, 2016 1:08 am

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This budget will be added to Guinness book.

dimuthubasd · 4 Re: Hurray ! Now they say No increase of BTT and NBT Thu Jan 14, 2016 7:13 am

dimuthubasd

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Is this means that vat rate also change back to 11% or it wont affect the rate? I read several articles but I don't get any clue.

EquityChamp · 5 Re: Hurray ! Now they say No increase of BTT and NBT Thu Jan 14, 2016 8:06 am

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No. The changes to VAT, NBT and BTT will be effective once the gazette notification is published. This does not means by no chance the budget proposals will not be implemented as these were the plans to increase government revenue.

Chinwi · 6 Re: Hurray ! Now they say No increase of BTT and NBT Thu Jan 14, 2016 9:21 am

Chinwi

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EquityChamp wrote:No. The changes to VAT, NBT and BTT will be effective once the gazette notification is published. This does not means by no chance the budget proposals will not be implemented as these were the plans to increase government revenue.

They are reluctant to implement their own solutions. Printing the gazette is not a big issue.
Intelligence reports are terrible. Try to talk with general public , you will get some idea. The failed rulers are trying all sort of counterproductive measures to face the reality.

By the way, what about the managers, companies who adjusted their processes to cater new budget rates ?

Last edited by Chinwi on Thu Jan 14, 2016 9:33 am; edited 1 time in total

troy · 7 Re: Hurray ! Now they say No increase of BTT and NBT Thu Jan 14, 2016 9:25 am

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If Chinwi is correct,

In future there will be more severe impacts on economy due to a bop crisis. from where gvt going to earn these missed revenue?

Chinwi · 8 Re: Hurray ! Now they say No increase of BTT and NBT Thu Jan 14, 2016 9:27 am

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dimuthubasd wrote:Is this means that vat rate also change back to 11% or it wont affect the rate? I read several articles but I don't get any clue.

මේ නිවේදනය අනුව නම් එහෙමයි. හරියටම කියන්න බෑ.
කවුද දන්නේ හෙට මොනව වෙනස් කරයිද කියල. උන්ටත් පිස්සු අපිටත් පිස්සු.

නිකං කකා, කාලෙ කකා ඉන්න උන්ටයි රට කකා ඉන්න දේශ පාලුවොන්ටයි නම් ප්‍රශ්නයක් නෑ. යම් දෙයක් ප්ලෑන් කරල කරන්න යන අයට තමයි ප්‍රශ්නේ.

jayathu · 9 Re: Hurray ! Now they say No increase of BTT and NBT Thu Jan 14, 2016 9:28 am

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what sought of a budget is this?? another hit to our Revenue side. They intially targeted 90Bn from this measure now what? how is the govt going to cover this revenue loss. Printing money is not the solution

samaritan · 10 Re: Hurray ! Now they say No increase of BTT and NBT Thu Jan 14, 2016 9:31 am

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They are doubting their own knowledge. this is a serious mental health condition. Amendments may go on till the next budget. Hurray ! Now they say No increase of BTT and NBT Icon_lol

worthiness · 11 Re: Hurray ! Now they say No increase of BTT and NBT Thu Jan 14, 2016 9:41 am

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Whoever rules the country has to face ongoing economic issues due to past inappropriate economic & monetary policies implemented. Developing country cannot march forward in giving all concessions what public demand particularly in a risky atmosphere. For the benefit of future generations certain painful events are to be absorbed.

Chinwi

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worthiness wrote:Whoever rules the country has to face ongoing economic issues due to past inappropriate economic & monetary policies implemented. Developing country cannot march forward in giving all concessions what public demand particularly in a risky atmosphere. For the benefit of future generations certain painful events are to be absorbed.

අපි කැමති උනත් නැති උනත් දැන් කරන්න ඉතුරුවෙලා තියෙන්නෙ, එහෙම නැත්නම් ඉබේම කෙරෙන්නේ මේක තමයි.

දුක්පත් අයට , නිකං කකා ඉන්න අයට මෙන්ම හොඳට සල්ලි දේපල තියෙන අයටත් මෙන්ම සංචාරකයන්ට, විදෙස් තානාපතිලාට පවා රට පුරා නොමිලේ බෙදන, සහනාධාර ලෙස දෙන ද්‍රව්‍ය, සේවා වලට දෙන ඇලොකේශන් එක අඩු කිරීම.
ඒක නම් රිදෙන නමුත් දිගුකාලීන ලෙඩ හොඳවෙන බෙහෙතක් වෙයි.

නමුත් තියෙන එකම ප්‍රශ්නේ පාලක පංතියේ පරස්පර විරෝධී අදහස් ඇති හවුල්කාර කණ් ඩායම් රාශියක් නිසා ඇතිවී තිබෙන අස්ථිර භාවය, රජයේ පැවැත්මට ඇති අවදානම නිසා මේවා කරන්න ඇති බිය හා ඇතුලින් ම එල්ලවිය හැකි දරුණු බාධා.

එමෙන්ම තමන් බලයට පත් උනේ තමන් ගේ ආකර්ශනයෙන්, හැකියාවෙන්ම නොවන බව දන්න අය ගේ හිත් වල තම රාජ්‍ය පාලන හැකියාවන් පිළිබඳව ඇති අස්තිර භාවය රටේ මූල්‍ය අර්බුධ ඒමත් සමග උත්සන්න වීම නිසා මහජන විරෝධය එල්ල විය හැකි දැඩි තීරණ ගැනීමේ දී ඇතිවන පැකිලීම හා අවුල් සහගත තත්ත්වය.