- Sri Lankan Official Gazette published VAT (Amendment) Act, No. 16
- VAT rates and registration thresholds modified
- Standard VAT rate increased to 18% from 15% starting Jan. 1, 2024
- Registration thresholds reduced for taxable supplies of goods or services
- Thresholds changed to exceeding 60 million rupees in a 12-month period and exceeding 15 million rupees in a taxable period from Jan. 1, 2024
Source: news.bloombergtax.com
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.
