In an effort to bolster revenue and align with International Monetary Fund (IMF) program goals, Sri Lanka’s cabinet of ministers has given the green light to raise the value-added tax (VAT) rate from its current 15% to 18%. Additionally, VAT exemptions on certain goods will be eliminated starting in January.
Source: GVC
Latest Posts in "Sri Lanka"
- Sri Lanka moves toward e-invoicing implementation
- Sri Lanka Launches E-Invoicing and Fiscal Registers to Modernise VAT Collection and Boost Compliance
- Lowering VAT Threshold Threatens Survival of Sri Lanka’s Micro and Small Businesses
- Sri Lanka to Start Fast-Track VAT Refunds for Low-Risk Exporters This Month
- Sri Lanka’s 2026 Budget: Major Indirect Tax Reforms, VAT Changes, and E-Invoicing Initiatives
