- Sri Lanka proposing to apply VAT on e-services for non-resident providers
- Inland Revenue Department in Sri Lanka wants to introduce VAT on electronic services by foreign companies
- Currently, foreign businesses do not have to charge VAT on sales in Sri Lanka
- Sri Lankan government wants to remove unfair advantage for non-resident companies
- Proposed VAT rate is 18%
- VAT will apply to streaming games, music, apps, films, e-books, e-journals, and internet services.
Source: fiscalsolutions.co.uk
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
