The Cabinet of Ministers has given its approval to increase the Value-Added Tax (VAT) from next year, the government says.
As such, VAT will be raised from 15% to 18% with effect from January 01, 2024.
Additionally, the VAT will be imposed on certain goods and services on which the tax is not yet applicable.
The decision was taken after observing that the tax collection targets agreed with the IMF are yet to be accomplished.
Source: www.adaderana.lk
