Sri Lanka Inland Revenue published two notices to persons registered for the Simplified Value Added Tax (SVAT) Scheme on 30 September 2025. As previously reported, the SVAT Scheme is repealed effective 1 October 2025 and replaced by a Risk-Based Refund Scheme.
The first notice explains that with the repeal, all Registered Identified Purchasers (RIP) and Registered Identified Suppliers (RIS) under the SVAT Scheme are required to complete all outstanding SVAT Schedules up to the taxable perio…