VATLive > Blog > VAT > Sri Lanka VAT rise still in doubt - Avalara

Sri Lanka VAT rise still in doubt

  • Aug 7, 2016 | Richard Asquith

Sri Lanka VAT rise still in doubt

Sri Lanka’s VAT rise in May 2016 from 11% to 15% remains suspended following a Supreme Court ruling.

The political parties in government will revisit the rise this week in an attempt to reach agreement on the rise.

Whilst the rise remains suspended, key infrastructure programs remain on hold and doubts remain in financial markets about the country’s ability to repay existing outstanding debt.

Latest news
Sri Lanka 12.5% VAT 2020
May 27, 2018

Sri Lanka plans to cut its Value Added Tax rate from to 12.5% from the current 15%. The plan was announced yesterday by the Finance...
Sri Lanka VAT registration threshold
November 13, 2016

Sri Lanka has reduced that annual VAT registration threshold to LKR 12million. The threshold for retail and wholesale sectors has been cut to 50million per...
Sri Lanka 15% VAT
November 1, 2016

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,...

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 can be contacted at: He is part of the European leadership team which won International Tax Review's 2019 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.