An Extraordinary Gazette Notification has been issued pertaining to the revision of the Value Added Tax (VAT) rate to 12 percent, on the import and/or supply of goods and services, other than the goods exempted previously.
The Gazette has been undersigned by Minister of Finance, Economic Stabilization and National Policies Ranil Wickremesinghe and will be in effect from the 1st of June.
Accordingly, the Gazette issued on the 29th of November 2019 pertaining to the Value Added Tax Act, has been rescinded.
