The Value-Added Tax (VAT) will be increased from 12% to 15% effective from September 01, President Ranil Wickremesinghe told the parliament today (30).
The Head of State, in his capacity as the Minister of Finance, Economic Stabilization, and National Policies, presented the Appropriation (Amendment) Bill, for the remainder of the fiscal year 2022, to the parliament this afternoon.
Goods imported to Sri Lanka, and goods and services supplied within the country’s territorial limits are subject to the VAT.
President Wickremesinghe said further that most of the revenue proposals introduced in May 2022 are expected to be effective from October 01, 2022.
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