Sri Lanka: Tax proposals in 2024 budget
Budget proposals for 2024 that include tax measures relating to direct tax, VAT, and tax administration
Budget proposals that include measures relating to direct tax, VAT, and tax administration
The Minister of Finance presented the budget proposals for 2024 that include tax measures relating to direct tax, value added tax (VAT), and tax administration.
In particular, it is proposed that both the VAT rate and base would be increased effective 1 January 2024.
It is also proposed to eliminate non-tariff import taxes including import cess and the port and airport development levy, within a period of three to five years.
Read a November 2023 report [PDF 4 MB] prepared by the KPMG member firm in Sri Lanka
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