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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.
Image Credit : ft.lk