02 February 2018

Sri Lanka's 2018 Budget includes indirect tax proposals

Sri Lanka's Minister of Finance and Mass Media presented the 2018 Budget on November 9, 2017. Under the Budget, the VAT rate was increased to 15% from the prior 11% rate. At the same time, the VAT registration threshold was reduced to LKR3 million (approx. US$19,500) per quarter (LKR12 million annually). These changes were effective as of November 1, 2017.

An Indirect Tax Services group Alert, attached below, provides additional details.

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ATTACHMENT

Full text of Tax Alert 2018-0253

Document ID: 2018-0253