On 1 June 2022, the Inland Revenue Department of Sri Lanka issued a Notice to VAT Registered Persons regarding changes in the VAT rates as per the Extraordinary Gazette Notification No. 2282/26, published in the Official Gazette on 31 May 2022.

The notice was issued as a part of the tax reform aimed at increasing government revenue. The VAT rate has been revised as set out below:

• 0% on the…