- Sri Lanka’s book industry is calling for the reversal of the government’s decision to impose 18% VAT on the sale of books.
- Industry associations, academics, writers, and publishers are opposing the tax, stating that it will make books more expensive and inaccessible to many.
- They argue that the tax will have long-term negative effects on education, culture, intellectual progress, and personal development.
- The imposition of VAT on books is seen as a violation of the UNESCO Florence Agreement, which Sri Lanka is a signatory of.
- The industry already contributes a significant amount to the government’s tax revenue through VAT paid by importers, resulting in double taxation for publishers.
- The decision to impose VAT on books is criticized as hindering the knowledge economy and disregarding the importance of making knowledge accessible.
Source: bizenglish.adaderana.lk
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
