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SRI LANKA: VAT Raised from 11% to 15% as Some Categories are Exempted While Others Become Newly Liable

VAT has been raised from 11% to 15% with immediate effect, although some 82 categories of goods are now exempt from the levy – including mobile phones, construction equipment, computers and accessories, fishing gear, pharmaceuticals and real estate.

The tax, though, has been imposed on several previously exempt items, most notably electrical equipment, alcoholic beverages, jewellery and powdered milk.[1]


[1]  Sri Lanka Inland Revenue Department official website

 

Content provided by Picture: HKTDC Research
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