VAT amendments to take effect from July 1

VAT amendments to take effect from July 1

The Gazette containing amendments to the Value Added Tax (VAT) system, which will come into effect from July 1, has been issued by the Ministry of Finance, Planning Economic Development. MORE..

Premadasa Warns of Economic Strain as VAT Overhaul Looms - LNW Lanka News Web

May 04, Colombo (LNW): Opposition Leader Sajith Premadasa has voiced strong objections to the government’s planned overhaul of Value Added Tax (VAT), cautioning that the proposed measures could place significant pressure on businesses and the wider economy. In a statement shared on social media, Premadasa highlighted that from July 01, the authorities intend to expand the VAT base, increase tax rates, and enforce stricter compliance requirements…

Sri Lanka to raise VAT on financial services to 20,5%; cuts threshold level

Gazette on VAT amendments issued

The Ministry of Finance, Planning and Economic Development has issued a Gazette notification, detailing amendments to the Value Added Tax (VAT) system, which are scheduled to come into effect from July 1, 2026. According to the new provisions, VAT will be imposed on services provided through electronic platforms with effect from the implementation date, bringing digital services within the tax net under the revised framework. The amendments also…

VAT reform Bill lists 11 key measures, including digital tax

Sri Lanka has introduced a Bill to amend the Value Added Tax (VAT) Act, proposing wide-ranging changes that will impact businesses, digital services, and tax compliance across the country. According to a tax update issued by KPMG in Sri Lanka, the amendment Bill was released on April 29, 2026, and will become legally enforceable following the completion of the constitutional process in Parliament. Key changes proposed in the Bill include a reduc…