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Sri Lanka’s 2025 Budget: Tax Reforms and Digitalization

  • Impose VAT on digital services
  • Regulate registration, fees, collection, and return filing
  • Mandate the use of Point of Sale machines by VAT-registered persons
  • Abolish the simplified VAT system
  • Replace it with a risk-based refund system

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.

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