Sri Lanka: Income tax and VAT legislation measures

Tax legislation passed and certified by the Speaker

Tax legislation passed 13 May 2021 and certified by the Speaker

Tax legislation passed 13 May 2021 and certified by the Speaker include income tax and value added tax (VAT) legislation amendments.

  • The Inland Revenue (Amendment) Act No. 10 of 2021 includes tax rate changes for the energy sector and amendments to the tax administrative procedures. Read a May 2021 report [PDF 156 KB] prepared by the KPMG member firm in Sri Lanka
  • The Value Added Tax (Amendment) Act No. 9 of 2021 concerns conditions for zero-rated supplies for, among other items, the export of goods, for services directly connected with any movable or immovable property outside Sri Lanka, and for services directly connected with a copyright, patent, license, trademark or similar intellectual property right, to the extent that such right is for use outside Sri Lanka. Read a May 2021 report [PDF 157 KB] prepared by the KPMG member firm in Sri Lanka

 

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