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2026-07-01

News Categories : News 

Endorsement of the Speaker’s Certificate on the Value Added Tax (Amendment) Bill and the Mediation (Civil and Commercial Disputes) Bill

Dr. Jagath Wickramaratne, Hon. Speaker of the Parliament of Sri Lanka, yesterday (Jun. 30) endorsed the certificates on the Bill to amend the Value Added Tax Act No. 14 of 2002 and the Mediation (Civil and Commercial Disputes) Bill.

The Bill to amend the Value Added Tax Act No. 14 of 2002 was presented to Parliament for the first reading on 19 May 2026, and it was passed in Parliament with amendments on 23 June 2026.

The objective of this Bill is to modernize the national tax framework targeting both the traditional financial sectors and the rapidly growing digital economy. The provisions introduced through this Act include registration of non-resident digital service providers, introduction of a new methodology for levying taxes, and the mandatory use of point-of-sale machines to ensure transparency. 

Further, it has been proposed through this Act to enhance tax compliance and fiscal integrity by toughening the existing penalty provisions against tax evasions and fraudulent obtaining of tax benefits.

Moreover, the Mediation (Civil and Commercial Disputes) Bill was presented to Parliament for the first reading on 11 July 2025 by the Minister of Justice and National Integration and was passed by Parliament without amendments on 11 June 2026.

This Act provides for the mediation of civil and commercial disputes, repeals the Commercial Mediation Centre of Sri Lanka Act No. 44 of 2000, and makes provisions for matters connected therewith and incidental thereto.

Accordingly, these two Bills come into force as Value Added Tax (Amendment) Act No. 14 of 2026 and Mediation (Civil and Commercial Disputes) Act No. 13 of 2026 respectively. 



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