Supreme Court says NBT amendment consistent with constitution

Sept 22, 2016 (LBO) – Sri Lanka’s Speaker of Parliament informing the Supreme Court determination today said the Nation Building Tax amendment bill is not inconsistent with the constitution. A public interest litigant activist filed a petition in the Supreme Court challenging the Nation Building Tax bill charging that it imposes retrospective tax liability. The bench comprised of Chief Justice K. Sripavan and Justices Anil Gooneratne and Prasanna S. Jayawardane recently heard the submissions made on the bill. The bill seeks to limit certain exemptions granted under revenue acts and to vary the limits of liable turnover of businesses. The bill published on the gazette last month, which is yet to be passed by Parliament, is reproduced below. nbt