Adrien Duval: Rs 344 Million in VAT Collected on Fuels in Six Months

Adrien Duval, the chairman of the Public Accounts Committee and opposition whip, believes that the increase in fuel prices has also led to a rise in VAT revenue collected by the state. During a press conference held on Wednesday, May 20, he indicated that the government has collected approximately Rs 344 million in VAT on fuels over a six-month period.

"Not only have we not reduced it, but we are collecting much more in terms of VAT each time fuel prices rise," stated Adrien Duval. He emphasized that several countries have opted to lower certain taxes on fuels to mitigate the effects of rising oil prices on consumers.

"However, every time fuel prices increase, the VAT revenue collected by the government rises," asserted Adrien Duval, while specifying that VAT revenues would increase by about 9% on petrol and more than 20.87% on diesel when fuel prices are adjusted upwards.

It is worth noting that this amount is not deposited in the Price Stabilization Account, but rather goes to the MRA to eventually end up in the Consolidated Fund.