Sri Lanka’s inflation could rise to 7 percent in January 2024 due to the VAT increase, the Governor of the Central Bank of Sri Lanka (CBSL), Dr. Nandalal Weerasinghe warned.
The VAT was increased by 3 percent, from 15 percent to 18 percent, with effect from January 1, 2024, after the VAT (Amendment) Bill was passed in parliament on December 11, 2023, he said.
Source: island.ik
Latest Posts in "Sri Lanka"
- New Exemption for VAT-Liable Financial Services in 2025 Social Security Contribution Levy Amendment
- Sri Lanka Unveils Three-Phase Electronic Invoicing Reform to Modernise VAT and Boost Digital Economy
- Sri Lanka Sets Dec. 31 Deadline for November 2025 VAT Returns, Announces Penalties and Credit Rules
- Sri Lanka Introduces Risk-Based VAT Refund Scheme for Exporters and Strategic Suppliers Effective October 2024
- Sri Lanka Delays New VAT Invoice Format Implementation to April 2026
