- 18 percent VAT on nonresident digital service providers to Sri Lankan consumers effective April 1, 2025
- Repeal of simplified VAT scheme and replacement with VAT refund scheme effective October 1, 2025
- Increase in contribution to VAT Refund Fund from 6 percent to 10 percent effective October 1, 2025
- Mandatory electronic filing of VAT returns effective July 1, 2025
- VAT exemptions for supply or import of chemical naphtha to the Ceylon Electricity Board by the Ceylon Petroleum Corporation for the generation of electricity and supply of locally produced liquid milk and locally manufactured yogurt effective from date of enactment
- Repeal of VAT exemption for import of aircraft engines or aircraft spare parts effective from date of enactment
Source: kpmg.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.
