VAT To Be Imposed On Digital Platform Services

COLOMBO (News 1st): The Deputy Minister of Finance, Dr. Anil Jayantha Fernando, states that individuals providing services using digital platforms will be subject to VAT (Value Added Tax) starting from the 1st of next month.

He said that approval was granted in Parliament yesterday for several tax amendments, including this one.

The Deputy Minister also stated that with the passing of the Tax Amendment Bill, those taxes will come into effect.

He further stated that the tax amendments also include reducing the annual turnover threshold required for Social Security Contribution Levy registration from 60 million rupees to 36 million rupees.