Sri Lanka Inland Revenue has published the Budget Speech 2023, which was delivered on 14 November 2022. The tax-related measures covered in the speech are relatively limited, although it is noted that the government is committed to implementing tax reform measures announced earlier in the year, including measures included in the Inland Revenue (Amendment) Bill 2022 that was submitted in parliament in October.
- Reviewing the VAT Act to remove certain exemptions, including exemptions in the areas of electricity, transport, and fuel;
- Charging a surcharge tax on the import of diesel, petrol, and crude oil;
- …
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