Sri Lanka's Ministry of Finance, Economic Stabilization, and Economic Policies has published the Budget Speech 2024, which was delivered on 13 November 2023. The main measures as highlighted in the speech include:
- The VAT rate will be increased up to 18% from 1 January 2024 along with the elimination of almost all VAT exemptions other than for products relating to health, education, and a few essential foods;
- Amendments will be introduced enabling the Commissioner General to specify the for…