Revised VAT Invoice Format Mandatory from October 1, 2026

• The revised VAT invoice format will become mandatory on October 1, 2026.
• The IRD issued an Extraordinary Gazette detailing the new requirements.
• The change aims to improve digital tax collection, prevent fraud, increase transparency, and reduce tax leakage.
• The rollout was delayed from July 1 after businesses asked for more time to update their systems.
• Businesses must update their accounting, billing, and invoicing software before the deadline.

Source: ft.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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