By Imsha IqbalThe Cabinet of Ministers has approved the Special Goods and Services (GST) Tax Bill which was prepared by the legal draftsman along with the Value Added Tax (VAT) Amendment Bill and the Bills are expected to be gazetted soon. Accordingly, the Special GST Bill and the Bill to amend the VAT Act No. 14 of 2002, upon gazetting, will be presented to the Parliament for the approval, by the Minister of Finance Basil Rajapaksa. Attygalle said in October 2021 that the said Bill was drafted and the Ministry of Finance would not be able to announce it prior to the Budget 2022. Some of the companies have sent some proposals on how to implement this tax.

Source: The Nation January 04, 2022 19:03 UTC