Tax & Accounting Blog

Sri Lanka: Government Debt Burden Leads to Increase in VAT

Sri Lanka: Government Debt Burden Leads to Increase in VAT

Last Tuesday 8th of March the President of Sri Lanka announced in a speech before the National Parliament that the VAT rate applicable within the country will be increased to 15% in order to reduce the government deficit, which has been hit by increased levels of borrowing, falling oil prices and international economic turmoil. … Read More