The government has announced that Value Added Tax (VAT) at 18% will be imposed on income earned through online services provided by foreign individuals and platforms to users in Sri Lanka, effective Oct. 01.

This move follows the issuance of an extraordinary gazette notification by the Commissioner General of Inland Revenue, Rukdevi Himali Fernando, aimed at regulating and taxing the growing sector of cross-border digital services.
Under the new regulation, the VAT will apply to a wide range of services, including but not limited to:

• Software as a Service (SaaS)
• Online stores and marketplaces
• Digital advertising and marketing
• Cybersecurity and IT support services
• Video, music, and live-streaming platforms
• Online banking and financial tech services
• Social media and on-demand platforms
• Hotel booking and ticket reservation apps
• Online gaming platforms

The regulation also clarifies that any other digital service provided via an electronic platform from outside Sri Lanka to individuals residing in the country will be subject to VAT, even if not explicitly listed.

Foreign service providers are required to register for VAT if their supply of services exceeds Rs. 60 million annually or Rs. 15 million in the past three months. Prior to registration, such non-residents must also obtain a Taxpayer Identification Number (TIN).

This development comes amid growing debate over taxing foreign exchange earners and aims to expand the country’s tax base in the digital economy.

(dailynews.lk)

(Except for the headline, this story, originally published by dailynews.lk has not been edited by SLM staff)

Sri Lanka Cricket has announced a 17-member squad for the upcoming three-match T20I series against Bangladesh, set to begin on July 10.

The squad will be led by Charith Asalanka, with notable inclusions such as Kusal Mendis, Dinesh Chandimal, Wanindu Hasaranga, and the return of experienced all-rounders Dasun Shanaka and Chamika Karunaratne.

Match Schedule: 

1st T20I on July 10th – PICS, Kandy 

2nd T20I on July 13th – RDICS Dambulla

3rd T20I on July 16th – RPICS Colombo

The T20I squad is as follows : 

The International Cricket Council (ICC) has announced the appointment of Sanjog Gupta as its Chief Executive Officer (CEO). 

Sanjog will assume office on July 7th, 2025, becoming the 07th CEO of the ICC.

Sanjog Gupta currently serves as CEO – Sports & Live Experiences at JioStar and brings with him over two decades of cross-functional experience.ICC Chairman, Jay Shah said: “I am pleased to announce that Sanjog Gupta has been appointed as the CEO of the ICC. Sanjog brings extensive experience in sports strategy and commercialisation, which will be invaluable for the ICC.

“His deep understanding of the global sports as well as M&E landscape combined with his continued curiosity about the cricket fan’s perspective and passion for technology will prove essential in our ambition to grow the game in the coming years. Our goal is to move beyond traditional boundaries and establish cricket as a regular sport in the Olympics, growing its expanse across the world and deepening its roots in its core markets.

“We considered several exceptional candidates for this position, but the Nominations Committee unanimously recommended Sanjog. The ICC Board Directors look forward to working closely with him, and I would like to welcome him on behalf of everyone at the ICC.”

Sanjog Gupta, ICC CEO-designate, commented: “It is a privilege to have this opportunity, especially at a time when cricket is poised for unprecedented growth and enjoys the passionate support of almost 2 billion fans worldwide. These are exciting times for the sport as marquee events grow in stature, commercial avenues widen and opportunities such as the women’s game scale in popularity. Cricket’s inclusion in the Los Angeles 2028 Olympic Games and the rapid acceleration of technology deployment/adoption could act as force-multipliers for the Cricket movement around the world .”

“I look forward to contributing to the next phase of cricket’s evolution, expanding its global footprint, enhancing the fan experience, and working closely with ICC Member Boards to build on our strong foundations.”

(Excerpts : ICC)