Book Industry Urges VAT Exemption to Prevent Negative Impact on Access to Knowledge

• 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.

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