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Sri Lanka 12.5% VAT 2016

  • Dec 2, 2015 | Richard Asquith
Sri Lanka 12.5% VAT 2016

The 2016 Sri Lankan budget includes a splitting of the current 11% VAT rate. All services will be subject to 12.5% VAT. Goods will only be subjects to 8% VAT. The current Luxury VAT rate of 12% will be removed.

The VAT registration threshold is to be cut from LKR 15million to LKR 12million per annum.

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