If the cigarette was increased by another Rs 20 the VAT would not be necessary-Bandula

If the cigarette was increased by another Rs 20 the VAT would not be necessary-Bandula

The Member of Parliament Bandula Gunawardena had added that if  by a special tax the price of a cigarette  manufactured locally is  increased by Rs 20 the government could derive the income they anticipate from increasing the

VAT by 15%.

The Member of Parliament Bandula Gunawardena had said this while addressing a media conference of the  economic research unit of the joint opposition held at the former president Mahinda Rajapaksa's office in Nelum Mawatha Battaramulla the day before yesterday, the 13th instant.

It is reported that for an year four million one hundred of cigarettes are manufacture locally and accordingly a sum of rupees eighty two billion tax could be collected a year.

According the Bandula Gunawardena if this strategy is adopted as an alternative the government could derive the anticipated targets from  the VAT increase instead of burdening  the small industrialists  with  VAT.

He had said that the President could call the Minister of Finance and implement this proposal.He had added that the present income of rupees billion eighty  could be increased to rupees billion one hundred and sixty two..