The Sri Lanka Inland Revenue Department has issued a Notice to VAT Registered Persons on changes in the VAT rates as per the Extraordinary Gazette Notification No. 2295/08 of 31 August 2022. This includes the following VAT rates with effect from 1 September 2022:
- 0% on the import of goods (fabrics) set out in the H.S. Code and description specified in Columns I and II of Schedule of the Extraordinary Gazette Notification No. 2095/20 of 1 November 2018; and
- 15% on the import and/or supply of…