31 January 2024
The Inland Revenue Department in Sri Lanka is proposing to introduce VAT on the supplies of electronic services by non-resident companies.
Currently, foreign businesses providing digital services to consumers in Sri Lanka do not have to charge VAT on their sales. However, to remove the unfair advantage this gives to non-resident companies over resident providers, the Sri Lankan government is proposing that VAT at 18% will be applied to these types of 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.
Are you trading globally? Whether you require basic VAT advice or specific VAT compliance support, Fiscal Solutions can help. Our team of multi-lingual experts are knowledgeable in all the different VAT rules in Europe and around the world.
We help you simplify today’s complexities and address tomorrow’s challenges. The values we represent, and our consistent advice, mean you can trust Fiscal Solutions to do the right thing – for you and your organisation.
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