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Revised VAT Rates in Sri Lanka for 2024: Changes and Implications

  • Zero percent VAT on fabric imports
  • 18% VAT rate for goods and services (excluding fabrics)
  • 15% VAT rate for advance payments made before January 01, 2024
  • 18% VAT rate for financial services

Source: globalvatcompliance.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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