Sri Lanka’s inflation could rise to 7 percent in January 2024 due to the VAT increase, the Governor of the Central Bank of Sri Lanka (CBSL), Dr. Nandalal Weerasinghe warned.
The VAT was increased by 3 percent, from 15 percent to 18 percent, with effect from January 1, 2024, after the VAT (Amendment) Bill was passed in parliament on December 11, 2023, he said.
Source: island.ik
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