Sri Lanka 15% VAT

Tue 1st Nov 2016

Sri Lanka VAT has been raised from 11% to 15% from today, 1 November 2016.

To help cushion the effects on the less well off, a range of over 80 basic products and foodstuffs are to be zero-rated for VAT.

The VAT increase was originally introduced in May, but was blocked in May by a constitutenial court ruling.  The rise, to meet International Monetary Fund budget deficit requirements, was since approved by Parliament.

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