Notice on change of Value Added Tax (VAT) Rate under section 2A of Value Added Tax Act No.14. of 2002 (dated 29/12/2023) – Inland Revenue Department
View Pdf– Notice on change of Value Added Tax (VAT) Rate under section 2A of Value Added Tax Act No.14. of 2002 (dated 29/12/2023) – Inland Revenue Department.
- The Inland Revenue Department, vide notice, revised the rate of VAT for import of fabrics to 0% and other than import of fabrics to 18% with effect from 1st January, 2024 as per the Extra ordinary Gazette Notification No. 2363/22 dated 19th December, 2023, .And any payment made in advance before 01st January 2024 for goods or services to be received on or after 01st January 2024 will be subject to VAT at 15%. The VAT Rate applicable to the supply of financial services remains unchanged at Eighteen percent (18%). Please refer the notice for more details.
