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Sri Lanka Tax Information

18% VAT

VAT is 18%. Registration required above LKR 80 million quarterly.

Contractor Services to Invoice

  • Labor charges
  • Material costs
  • Equipment rental
  • Permit fees
  • Subcontractor work
  • Change orders
  • Warranty work

Invoice Requirements in Sri Lanka

VAT number
Business registration
Client details
VAT (18%)
Total in LKR

Payment Terms

Progress billing at milestones. Retain 5-10% until final inspection.

Cash14 days30 daysCredit

Payment Methods in Sri Lanka

Bank TransferFriMiCredit CardCash

Contractor Invoice Tips

  • Break down materials and labor
  • Reference permits
  • Document change orders
  • Include lien waiver language
  • Track progress payments

Frequently Asked Questions

What tax rate applies to contractor invoices in Sri Lanka?

Sri Lanka has 18% VAT. VAT is 18%. Registration required above LKR 80 million quarterly.

What payment methods are common for contractors in Sri Lanka?

Common payment methods in Sri Lanka include: Bank Transfer, FriMi, Credit Card, Cash. Progress billing at milestones. Retain 5-10% until final inspection.

What should contractor invoices include in Sri Lanka?

Your invoice should include: VAT number, Business registration, Client details, VAT (18%). For contractor services specifically, also include: Labor charges, Material costs, Equipment rental.

How should contractors bill for projects?

Progress invoicing at milestones. Break down labor, materials, and subcontractor costs.

How do contractors handle material markup?

15-25% markup is standard. State policy in contracts.

What is Sri Lanka's VAT rate?

18% on most goods and services.