The National Book Traders Association says that the price of printed books has actually increased by 20% due to the imposition of Value Added Tax (VAT) and Nation Building Tax (NBT).
Sri Lanka Book Publishers Association President, Samantha Indeewara, made this declaration while speaking at the annual anniversary occasion of the National Book Traders Association.The price of a book has actually increased by 20%, or about one-fifth.
The officials are confusing the problem.
Formerly, there was a 15% VAT on products like stationery, but there was no VAT on printed books.
Thats what directly changed from 0% to 18%.
Stationery formerly had just 3% VAT.
They are blending these 2 categories.He even more kept in mind that about a month back, a letter was received from the Presidential Secretariat mentioning that they are conducting an analysis regarding VAT and will supply a response later.Gamini Moragoda, the Patron of the National Book Traders Association, likewise revealed his views to the media on the matter: A VAT that is not levied in any other nation on the planet is being troubled our books.
The intro of this tax, which had not existed in Sri Lanka for 75 years, starting in January 2024, is ruining the book industry.
If this continues, a child will not have the ability to afford a book in the future.