{"id":813,"date":"2026-05-04T11:58:50","date_gmt":"2026-05-04T11:58:50","guid":{"rendered":"https:\/\/tamilmail.lk\/english\/?p=813"},"modified":"2026-05-04T11:58:50","modified_gmt":"2026-05-04T11:58:50","slug":"sri-lanka-to-implement-revised-vat-structure-from-july-1","status":"publish","type":"post","link":"https:\/\/tamilmail.lk\/english\/2026\/05\/04\/sri-lanka-to-implement-revised-vat-structure-from-july-1\/","title":{"rendered":"Sri Lanka to Implement Revised VAT Structure from July 1"},"content":{"rendered":"<p>Deputy Minister of Economic Development Nishantha Jayawira has clarified the recent Gazette notification regarding the revision of Value Added Tax (VAT), which will come into effect from July 1.<\/p>\n<p>He stated that the new tax structure has been introduced in line with the government\u2019s policy to simplify the taxation system. As part of this reform, the previously separate Value Added Tax (VAT) and Social Security Contribution Levy (SSCL) will be merged into a single tax framework.<\/p>\n<p>Under the revised system, the current 18% VAT and 2.5% Social Security Contribution Levy imposed on banks and financial institutions will be consolidated into a single VAT rate of 20.5% starting from July 1.<\/p>\n<p>The Deputy Minister further explained that from that date onwards, the Social Security Contribution Levy will no longer be charged separately. Instead, only the unified VAT rate will be applicable, eliminating the dual taxation system that was previously in place for banks and financial institutions.<\/p>\n<p>Officials noted that the move is aimed at improving tax efficiency, reducing complexity in collection, and streamlining revenue administration in the financial sector.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Deputy Minister of Economic Development Nishantha Jayawira has clarified the recent Gazette notification regarding the revision of Value Added Tax (VAT), which will come into effect from July 1. He stated that the new tax structure has been introduced in line with the government\u2019s policy to simplify the taxation system. As part of this reform, &hellip;<\/p>\n","protected":false},"author":1,"featured_media":814,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-813","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-local"],"_links":{"self":[{"href":"https:\/\/tamilmail.lk\/english\/wp-json\/wp\/v2\/posts\/813","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tamilmail.lk\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tamilmail.lk\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tamilmail.lk\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tamilmail.lk\/english\/wp-json\/wp\/v2\/comments?post=813"}],"version-history":[{"count":1,"href":"https:\/\/tamilmail.lk\/english\/wp-json\/wp\/v2\/posts\/813\/revisions"}],"predecessor-version":[{"id":815,"href":"https:\/\/tamilmail.lk\/english\/wp-json\/wp\/v2\/posts\/813\/revisions\/815"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tamilmail.lk\/english\/wp-json\/wp\/v2\/media\/814"}],"wp:attachment":[{"href":"https:\/\/tamilmail.lk\/english\/wp-json\/wp\/v2\/media?parent=813"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tamilmail.lk\/english\/wp-json\/wp\/v2\/categories?post=813"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tamilmail.lk\/english\/wp-json\/wp\/v2\/tags?post=813"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}