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Sri Lanka 12.5% VAT 2016

  • VAT
  • 02 December 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 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.