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Sri Lanka 15% VAT May 2016

  • VAT
  • 15 April 2016 | Richard Asquith

Sri Lanka 15% VAT May 2016

Sri Lanka has named 2 May as the latest date for a rise in its standard value added tax rate from 12% to 15%.

The rise was last scheduled for 1 April.

Part of the delay is due to the ongoing negotiations with the International Monetary Fund on new $1.5 billion debt financing. The VAT rise is a crucial part of the efforts to close the country’s fiscal deficit.


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.