The Sri Lanka Inland Revenue Department (IRD) has published the Value Added Tax (Amendment) Act, No. 32 of 2023, which was originally certified on 13 December 2023 and published in the Official Gazette on 15 December 2023. The amendments include the introduction of a new VAT exemptions list under Part III of the First Schedule to the VAT Act that applies from 1 January 2024. The current VAT ex…