Legal action to be taken against traders who increase price

Cabinet Spokesman Mass Media Minister Dr Bandula Gunawardena yestrday said that legal action should be taken against the traders who raise prices on consumer items arbitrarily.

With the recent increase in the Value Added Tax (VAT), effective as of January 1st, 2024, most of the traders have arbitrarily increased the prices prices of goods. These violations will result in legal action being taken against them.

The Minister stated that that certain consumer items are subject to an 18 per cent VAT, while others, having already incurred a 15 per cent VAT, would now be applicable for only a three percent VAT.

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