Sri Lanka 15% VAT
- Oct 31, 2016 | Richard Asquith
Sri Lanka VAT has been raised from 11% to 15% from today, 1 November 2016.
To help cushion the effects on the less well off, a range of over 80 basic products and foodstuffs are to be zero-rated for VAT.
The VAT increase was originally introduced in May, but was blocked in May by a constitutenial court ruling. The rise, to meet International Monetary Fund budget deficit requirements, was since approved by Parliament.