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Sri Lanka drops VAT hike plan

  • VAT
  • 07 April 2016 | Richard Asquith

Sri Lanka drops VAT hike plan

The Sri Lankan Inland Revenue Department has confirmed that it did not proceed with the plan to increase its VAT rate from 11% to 15 on 1 April 2016.

The plan had been announced in March as part of attempts to secure new International Monetary Fund backing.

The rise may only have been postponed, and more details will follow.


VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which this year won International Tax Review's Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.