Sri Lanka VAT rise still in doubt

Mon 8th Aug 2016

Sri Lanka’s VAT rise in May 2016 from 11% to 15% remains suspended following a Supreme Court ruling.

The political parties in government will revisit the rise this week in an attempt to reach agreement on the rise.

Whilst the rise remains suspended, key infrastructure programs remain on hold and doubts remain in financial markets about the country’s ability to repay existing outstanding debt.