- VAT will be imposed on digital services provided by non-residents via electronic platforms to Sri Lanka from October 1, 2025
- Simplified VAT Scheme will be abolished and replaced with a Risk-Based Refund Scheme from October 1, 2025
- Zero-rated supplies must receive payment in foreign currency through a licensed bank in Sri Lanka within six months
- Mandatory VAT registration for all commercial importers and exporters regardless of turnover
- Certain employee benefits like meals and transport provided by employers will be treated as zero-rated for VAT purposes from January 1, 2024
Source: ird.gov.lk
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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