SRILANKA-IRD

Sri Lanka IRD VAT 18% + e-Filing since 2010.

Definition

Sri Lanka IRD e-Services Portal: VAT e-Return (VAT Return Schedule SVAT 03 monthly), VAT Registration (Form VAT 1), SVAT (Suspension of VAT for exporters), Income Tax e-Return (IT Return Form 01 corporate, Form 02 individuals), PAYE e-Service, Withholding Tax e-Service. VAT rates: 18% standard since January 2024 (previously 15% since 2002 then 12% pandemic 2020-2022 increased 15% 2022 then 18% 2024 austerity), Zero-Rate (exports), Exempt. Mandatory VAT registration threshold LKR 80M annual turnover. IRD Building Colombo Sir Chittampalam A Gardiner Mawatha. ~50000 VAT-registered enterprises.

Origin

Sri Lanka IRD modern organisation reformed 2018 (Inland Revenue Act No 24/2017) ; e-Services Portal launched 2010 ; VAT 18% January 2024 increase ; e-Filing phased 2010-2020.

Example in context

John Keells Holdings (Sri Lanka hospitality, transport, real estate conglomerate) files monthly VAT 18% via IRD e-Services Portal: VAT Return Schedule SVAT 03, SAP ERP integration, SOAP XML transmission.

Related terms

• Bangladesh NBR — South Asia neighbour.