As per the Extraordinary Gazette Notification No. 2295/08 dated August 31, 2022, published
under section 2A of the Value Added Tax Act, No. 14 of 2002, VAT rate has been revised with
effect from September 01, 2022 as set out below.
(a) Import of goods (Fabrics)
Import of fabrics set out in the H.S. Code and description specified
in Column I and II of Schedule of the Extraordinary Gazette
Notification No. 2095/20 dated November 1, 2018
Zero per centum
(0%)
(b) Standard Rate
Import and/or supply of goods or supply of services, other than
import of goods as referred to under above paragraph [paragraph (a)]
Including,
supply of services by a hotel, guest house, restaurant or other
similar businesses providing similar services, registered with
the Sri Lanka Tourism Development Authority, (for which
VAT rate on such supply was at 0% from December 01, 2019
to May 31, 2022)
Fifteen per centum
(15%)
Further, VAT Rate applicable on supply of financial services remains unchanged at
Eighteen per centum (18%)
Source: gov.lk
