Vat exemptions : Two key updates
2025-04-17
The Sri Lankan government has enacted the Value Added Tax (Amendment) Act, No. 04 of 2025, introducing significant tax exemptionsContinue Reading
Three company directors sentenced over failure to pay VAT
2025-03-18
Three Directors of a private company in Kandana that sold and distributed cigarettes have been sentenced to 06 months withContinue Reading
Good behaviour earns Arjun Aloysius an early prison exit
2025-02-24
Director of W.M. Mendis Distilleries, Arjun Aloysius, who was sentenced to jail for defaulting on a payment of Rs. 3.5Continue Reading
Amendments for VAT & Inland Revenue Acts : Cabinet
2025-02-20
Cabinet approval has been granted for the amendments to the Value Added Tax and Inland Revenue Acts to be publishedContinue Reading
Govt explains why promised Taxes not removed from Budget
2025-02-18
Deputy Minister of Finance Anil Jayantha Fernando says the government could have removed taxes if not for the agreement withContinue Reading
9 Vat amendments in Budget : VAT for services provided through digital platforms
2025-02-17
According to the budget speech presented to Parliament by President Anura Kumara Dissanayake follows are the amendments proposed to VATContinue Reading
Court rejects Arjun Aloysius’ bail request
2024-10-16
The bail request of the Director of W.M. Mendis Company, Arjun Aloysius, imprisoned for VAT evasion, has been rejected byContinue Reading
Vat case : Six months imprisonment for Arjun Aloysius
2024-10-14
The Director of W.M. Mendis Distilleries Arjun Aloysius and two others have been sentenced to 6 months in prison forContinue Reading
Couple sentenced to six months for evading VAT dues
2024-10-08
A couple who had operated a private business in Padukka has been sentenced to six months imprisonment for having failedContinue Reading
21% VAT hike? : Update from Treasury on strike demand
2024-07-08
The Value Added Tax (VAT) will require to be increased from the current 18% to 20-21% if the striking publicContinue Reading
President reveals plans to exempt certain areas from VAT
2024-03-06
President Ranil Wickremesinghe has announced plans to provide certain exemptions from Value Added Tax (VAT). The President said he hopesContinue Reading
IRD urges public to notify of businesses without VAT registration charging VAT
2024-01-29
The Inland Revenue Department (IRD) has urged the public to file complaints on businesses which are charging Value-Added Tax (VAT)Continue Reading
VAT issue : Notice for all businesses
2024-01-10
The laws will be strictly enforced to eradicate the trade mafia generating profits without registering with the Inland Revenue Department,Continue Reading
Tax issue on Uber & local companies: COPF issues directive
2024-01-10
The Committee on Public Finance (COPF) has issued directives to the Department of Inland Revenue (IRD) on the Value AddedContinue Reading
Finance Ministry issues list of 43 VAT-free items
2024-01-03
The Ministry of Finance has released a list of the items that will be exempted from Value Added Tax (VAT).Continue Reading
VAT increase may result in deaths, MP Premadasa warns
2024-01-03
The newly imposed Value Added Tax (VAT) will further increase the misery of the people, which may result in deathsContinue Reading
Sinopec sells Petrol & Diesel slightly less than CPC & LIOC
2024-01-01
China Petroleum & Chemical Corporation (Sinopec) has revised its fuel prices, following the implementation of the amended Value Added TaxContinue Reading
VAT hike : Cigarette prices increased
2024-01-01
Prices of cigarettes have been increased under 3 categories from today (Jan 01) following the increase in Excise Duty and Continue Reading