Local News
Sri Lanka Consolidates Financial Sector Levies: Clarifying the 20.5% VAT Update.
May 4, 2026 at 9:28 AM
Deputy Minister Nishantha Jayaweera clarifies that the shift to a 20.5% VAT for financial institutions starting July 1, 2026, is a consolidation of existing 18% VAT and 2.5% SSCL, rather than a tax hike, aimed at simplifying administrative processes.
Local News
Sri Lanka’s Inland Revenue Department Achieves Record-Breaking Tax Collection in Q1 2026.
April 10, 2026 at 8:07 AM
The Inland Revenue Department of Sri Lanka has posted a robust start to 2026, collecting over Rs. 606 billion in tax revenue, a 17.7% year-on-year increase, signaling strong economic momentum and improved compliance.





