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.
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