IRD Notice on Exemption of VAT on supply of Residential Accommodation

Supply of residential accommodation by way of sale of Condominium housing unit by any person is exempt from VAT with effect from December 01, 2019.

Accordingly, VAT is not applicable on the sale of condominium Housing Unit with effect from December 01, 2019, subject to formal amendment to the Value Added Tax Act No. 14 of 2002, to be passed in Parliament.

Download IRD Notice

Share this:

Leave a Reply

Your email address will not be published. Required fields are marked *