- Sri Lanka enacts VAT on remotely supplied services for domestic taxpayers
- 18 percent VAT effective from October 1, 2025
- Services include cloud computing, SaaS, e-commerce, digital marketing, cybersecurity, IT support, streaming, FinTech, website subscriptions, hotel reservations, and ticket bookings
- VAT applies to e-commerce, social media, on-demand, content-sharing, cloud collaboration, online marketplaces, gaming, and blockchain platforms
- Legislation outlines VAT registration, calculation, obligations for non-resident taxpayers, return filing, record-keeping, and penalties for non-compliance
Source: answerconnect.cch.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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