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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.


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 won International Tax Review's 2020 Tax Technology Firm of the Year. Richard trained as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.