Sri Lanka has launched a national electronic invoicing framework to modernize its tax administration and curb tax evasion. The system, integrated with the existing Revenue Administration Management Information System (RAMIS) via a secure Web API, will roll out in stages, starting with a pilot phase expected to be fully deployed by the end of 2025 and eventually becoming mandatory for all VAT‑registered businesses and B2C POS transactions.
The full deployment of the initial pilot phase is anticipated by the end of 2025.
After the pilot and export‑oriented phases, e‑invoicing will become mandatory for all VAT‑registered businesses in Sri Lanka.
It will be integrated directly with the Revenue Administration Management Information System (RAMIS) via a secure Web API connecting taxpayers' ERP systems.
Get VAT and indirect tax news delivered to your inbox twice a week.
No spam. Unsubscribe anytime.
BhaskarEnglish · about 6 hours ago
The 2025 GST exemption for individual health and term insurance in India has not led to significant premium reductions because insurers cannot claim input tax credit on operating expenses. The article explains how insurers absorb costs or adjust premiums, and outlines industry demands for partial ITC restoration and other reforms.
Manila Times · about 9 hours ago
The Manila Times opinion piece explains how the Supreme Court’s February 4 2025 ruling in the Subic Bay Freeport case clarified that domestic market enterprises (DMEs) are entitled to VAT zero‑rating under the Create Act, overturning earlier BIR issuances that excluded them. It also outlines the conditions under which DMEs can still claim the benefit under the newer Create More law, namely high‑value DMEs with significant investment capital or export sales, and stresses that purchases must be directly attributable to the registered project. The article advises businesses in freeports and ecozones to update their ERP systems, document eligibility, and align procurement processes to avoid disputes.
Rödl · 3 days ago
China’s new Value‑Added Tax Law and its Implementing Regulations entered force on 1 January 2026, bringing significant changes to taxable transaction definitions, VAT rates, and taxpayer status thresholds. The law retains the 13 %, 9 %, and 6 % rates, introduces a 3 % levying rate for the simplified tax method, and adjusts the real‑estate VAT rate for individuals to 3 %. Enterprises exceeding RMB 5 million in annual taxable sales must switch to the general taxation method, and the definition of taxable services and intangible assets now focuses on consumption within China or domestic sellers.
Stripe · 4 days ago
This guide explains Australia's e-invoicing landscape, including the Peppol network, current compliance requirements, and projected market growth. It highlights that while private businesses are not yet mandated to use e-invoicing, government entities must, with deadlines set for 2026, and outlines funding and efficiency gains. The article also details the standard format and benefits such as faster payments and reduced errors.
IRAS · 4 days ago
This IRAS guidance outlines the steps for GST registration in Singapore, including e‑learning requirements, GIRO processing, effective dates, and special provisions for overseas entities. It details processing timelines, backdating rules for compulsory registration, and agent appointment obligations for foreign suppliers.
IRAS · 4 days ago
This IRAS guidance explains the steps and requirements for completing Singapore’s GST F1 registration form, including eligibility checks, mandatory e-learning, and technical prerequisites such as InvoiceNow readiness. It also outlines the 14‑day draft retention period and the prohibition on collecting GST before approval.
