Sri Lanka Gazettes Notice Updating VAT Rates

The Sri Lankan Official Gazette May 31 published a notice updating the VAT rates on goods and services. The notice provides: 1) a zero percent VAT rate on the import of fabrics; 2) a 12 percent VAT rate on the import or supply of goods and services other than fabrics; and 3) the unchanged 18 percent VAT rate on financial services. The law entered into force June 1. [Sri Lanka, Official Gazette, 05/31/22]

Reference:
View Notice, Official Gazette No. 2282/26. View Gazette Index. View IRD Notice.