- Sri Lanka’s IRD introduced a risk-based refund scheme under VAT law effective October 1, 2025.
- The framework and transitional provisions are in Gazette Notification No. 2456/02.
- Eligible persons can receive refunds within 45 days from the VAT return due date.
Source: kpmg.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 Delays 18% VAT on Non-Resident Electronic Services to April 2026
- Exporters Concerned Over VAT Transition Impact on Cash Flow and Export Competitiveness
- Sri Lankan Business Chambers Challenge SVAT Removal in Court Over Lack of Refund Mechanism
- Sri Lanka Abolishes SVAT, Introduces Risk-Based VAT Refund Scheme Effective October 2025
- CRTA Warns of Severe Impact on Rubber Industry Due to SVAT Removal in Sri Lanka
