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Sri Lanka 15% VAT

  • Oct 31, 2016 | Richard Asquith

Sri Lanka 15% VAT

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.

VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is the former VP Global Indirect Tax at Avalara