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Sri Lanka News

UK Consumers Would Bear Brunt Of 'Hard Brexit'

by Jason Gorringe,, London

Monday, October 10, 2016

The price of foreign goods sold to British consumers after the UK leaves the European Union could be as much as 27 percent higher as a result of new trade taxes, the British Retail Consortium has said. Read Full Story


Sri Lanka IRD Introduces E-Filing For VAT

by Mary Swire,, Hong Kong

Tuesday, August 9, 2016

The Sri Lankan Inland Revenue Department has introduced an e-filing service for value-added tax returns. Read Full Story


Sri Lankan Court Shuts Down VAT Hike

by Lorys Charalambous,, Cyprus

Monday, August 8, 2016

Sri Lanka's value-added tax rate has been returned to 11 percent as a result of a ruling from the Supreme Court. Read Full Story


USTR Criticized For Exclusions After GSP Review

by Mike Godfrey,, Washington

Thursday, July 7, 2016

"Deep disappointment" has been expressed over the exclusion of travel goods produced in the Philippines, Thailand, Pakistan, Indonesia, and Sri Lanka from duty-free status under the US Generalized System of Preferences program, following the US Administration's recent annual review. Read Full Story


Sri Lanka Ratifies WTO's Trade Facilitation Pact

by Lorys Charalambous,, Cyprus

Tuesday, June 7, 2016

Sri Lanka has become the latest member of the World Trade Organization to ratify the new Trade Facilitation Agreement, the WTO has announced. Read Full Story


Sri Lanka Signs Off On VAT Rate Hike

by Mary Swire,, Hong Kong

Monday, May 9, 2016

On May 2, 2016, Sri Lanka approved a hike to its headline rate of value-added tax from 11 percent to 15 percent to shore up the nation's finances. Read Full Story


Sri Lanka Plans Tax Reforms Under IMF-Backed Program

by Lorys Charalambous,, Cyprus

Monday, May 9, 2016

Sri Lanka plans to make fundamental changes to tax policy and administration under an economic program supported by an International Monetary Fund loan. Read Full Story


China, Sri Lanka To Discuss FTA Signing In June

by Mary Swire,, Hong Kong

Wednesday, May 4, 2016

Sri Lanka and China will hold high-level discussions in June on the possibility of signing a bilateral free trade agreement, according to a statement by the Sri Lankan Ministry of Industry and Commerce on May 2. Read Full Story


Sri Lanka To Hike VAT To 15 Percent

by Lorys Charalambous,, Cyprus

Thursday, March 10, 2016

Sri Lanka has announced a substantial four percent hike to the headline value-added tax rate, to establish a rate of 15 percent, rather than introducing a split-rate system. Read Full Story


US Opens Another Trade Dispute Over Chinese Tires

by Mike Godfrey,, Washington

Tuesday, February 23, 2016

On February 19, the US Commerce Department decided to initiate antidumping and anti-subsidy countervailing duty investigations into imports of truck and bus tires from China. Read Full Story



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