Sri Lanka to raise VAT to 15% from May 2

The Value Added Tax (VAT) is scheduled to be increased from 11% to 15% with effect from May 02, 2016.  

Health and telecommunication sectors will also be included for subject to VAT, according to Finance Ministry sources.  

In March, Prime Minister Ranil Wickremesinghe in Parliament announced that VAT will be hiked to 15 percent from 11 percent and said the government will impose a capital gains tax.   

The goods imported into Sri Lanka and goods and services supplied within the territorial limits of Sri Lanka are the subject matter of VAT.

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