Sri Lanka, Nov. 10 -- Around 30 000 trade outlets such as grocery stores, textile shops and wayside hotels will be liable for VAT payments, and it will result in the rise cost of living as the burden will be transferred to consumers at the end, former Minister Patali Champika Ranawaka said .

Making remarks to the press, Mr. Ranawaka who is the United Republican Front leader said that the government intends to earn Rs.150 billion in terms of VAT revenue at the cost of ordinary businessmen with a daily turnover of more than Rs.100,000 in this manner.

The budget VAT reforms include lowering the annual turnover threshold for registration to Rs. 36 million, from Rs.60 million.

Commenting on the budgetary proposals, he said 30 percent of th...