No water electricity telephone bill price hike

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Finance Minister Ravi Karunanayake said water, electricity and telecommunication will fall under the zero VAT system. Accordingly, the Finance Ministry says, most essential items will fall under the zero VAT system. He said that VAT cannot be charged from consumers for water, electricity and telecommunication services and so there cannot be a price hike on the three items. (Colombo Gazette) The Ministry of Finance says with the amendment of the VAT tax system there will not be an increase in the price of water, electricity or telecommunication services.Through the 2016 budget, the VAT tax was amended to a three tier system ranging from zero percent to 12 percent as opposed to the fixed 11 percent.

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