- The deadline to electronically file November 2025 VAT returns is December 31.
- Penalties apply for late or incorrect VAT return submissions.
- Input VAT credits for local purchases or imports will be denied if claimed more than 12 or 24 months after the deadline, respectively.
- VAT paid on imports can be claimed against output tax for any taxable period ending within 24 months from the customs declaration date.
Source: news.bloombergtax.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 Advances Tax Digitization with Electronic Invoicing to Boost Transparency and Economic Growth
- Sri Lanka Launches National E-Invoicing System to Modernize Tax Infrastructure
- ICCSL Examines Business Readiness and Challenges of New VAT Invoice Implementation 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
