- The SVAT Scheme in Sri Lanka will end on 1 October 2025
- September and July will be the last periods under SVAT
- SVAT allowed deferring VAT payments for eligible exporters and projects
- All SVAT registrations will be cancelled and converted to standard VAT
- Businesses must stop using SVAT Credit Vouchers and switch to VAT invoices
- The change aligns with international best practices and simplifies compliance
- Standard VAT rules and deadlines will apply from 1 October 2025
Source: regfollower.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.
Latest Posts in "Sri Lanka"
- Sri Lanka BoI Seeks Solutions to VAT Policy Threatening Exporters’ Backward Integration and Competitiveness
- Impact of SVAT Removal on Sri Lanka’s Tea Industry: Price Drops and Cash Flow Challenges
- Multiple Sectors Demand VAT Relief, Salary Revisions, and Increased Budget Support in Upcoming Budget
- Inland Revenue Promises 45-Day VAT Refunds Through New SVAT System
- Melco Fulfills $100M Sri Lanka Casino Investment, Revenues Gain VAT Exemption
