Sri Lanka, Nov. 7 -- President Anura Kumara Dissanayake stated that the total number of registered taxpayers in Sri Lanka has increased by 300,000 as of September 30, 2025 compared to 2024.

The President made this revelation while delivering the 2026 Budget speech.

President Dissanayake also confirmed that the Simplified VAT System (SVAT) has been abolished with effect from October 01, 2025, and has been shifted to an approved refund process to improve tax compliance and reduce misuse.

Published by HT Digital Content Services with permission from Ada Derana....