28 June 2024
The Inland Revenue Department of Sri Lanka is planning to implement VAT on electronic services supplied by non-resident companies to consumers from March 2025.
Currently, foreign businesses providing digital services to consumers in Sri Lanka do not have to charge VAT on their sales. However, to level the playing field between non-resident and resident providers, the Sri Lankan government proposes a VAT rate of 18% on these transactions.
If implemented, this will apply to a range of electronic services including streaming games, music, apps, films, e-books, e-journals, and internet services.
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