Sri Lanka to increase VAT to 18%
Sri Lanka to increase Value-Added Tax (VAT) from 15 percent to 18 percent effective from January 01, 2024.
Addressing the Cabinet press briefing today (October 31), Minister Bandula Gunawardena said, Cabinet approval has been granted in this regard.
He said even though tax income has risen over 50 percent in the first nine months of 2023 compared to 2022, such income has not yet reached the targets set by the International Monetary Fund (IMF).
Latest Headlines in Sri Lanka
- DIG Nalaka de Silva released from case over alleged VIP assassination plot December 6, 2023
- Pressure grows on UK over British Museum treasures as Netherlands returns major colonial artefacts December 6, 2023
- Police officer takes his own life at Peliyagoda Interchange of Katunayake Expressway December 6, 2023
- Sagala asks officials about progress of Beira Lake Development Project December 6, 2023
- Sri Lanka to receive about $600 million ADB funding post-IMF approval – official December 6, 2023