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
Fuel & Gas price from Jan 1st : Clarification from Finance Ministry
2023-12-28
The Ministry of Finance has announced changes that will affect the prices of fuel and LP gas from January nextContinue Reading
President clarifies IT sector VAT decision
2023-12-12
President Ranil Wickremesinghe has assured that while the IT sector of Sri Lanka will now be levied a Value-Added TaxContinue Reading
VAT : Cabinet approval for another major change
2023-12-12
Cabinet approval has been granted to reduce the Value Added Tax (VAT) registration threshold. Accordingly, the VAT registration threshold willContinue Reading
Proposal to increase VAT to 18% passed in Parliament
2023-12-11
The third reading of the Value-Added Tax (Amendment) Bill was passed with amendments in Parliament today. Accordingly, 100 Parliamentarians votedContinue Reading
VAT Bill to be debated in Parliament today after yesterday’s blunder
2023-12-11
A proposal to take up the motion on the Value-Added Tax (Amendment) Bill for debate in Parliament today has beenContinue Reading
2024 VAT : Govt prepared to reassess 97 out of 138 items
2023-12-08
The government is open to reconsidering the list of items to which Value-Added Tax (VAT) will be applied from JanuaryContinue Reading
Fuel prices will increase by 10% in Jan – MP
2023-11-30
The increase in Value Added Tax (VAT) will result in a 10% increase in fuel prices from January next year,Continue Reading
VAT : Govt planning to take additional Rs 30,000 from every Sri Lankan
2023-11-29
Citizens will have to pay an additional tax amount of Rs. 30,000 to the government from next year, in additionContinue Reading