Widening VAT base will adversely affect SMEs – Sajith
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Source: Daily News
Published: 2026-05-05 05:47 UTC+10:00
Section: Breaking News
Factuality Score: 100
Opinion Category: Neutral
Topics: Politics, Economy & Finance, Tax & Budget, World News, Business & Economy
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Snippet:
Opposition Leader Sajith Premadasa stated that widening of the Value Added Tax (VAT) net by the Government from July 01, 2026 will drag in the Small and Medium-sized Business Enterprises (SMEs), with the financial services taxed higher, which will directly affect SMEs adversely as it will simultaneously increase tax rates and tighten tax enforcement.
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