GlobalAccounting/Localizations

Sri Lanka SVAT Repeal

Name: Sri Lanka SVAT Repeal
Price: 62 USD

Sri Lanka SVAT repeal transition pack: remap suspended-VAT flows to standard 18% VAT after the 1 Oct 2025 abolition

Odoo 20.0Odoo 19.0Odoo 18.0

Sri Lanka SVAT Repeal Transition Pack

Move suspended-VAT (SVAT) flows to standard 18% VAT after the 1 October 2025 abolition

On 1 October 2025 Sri Lanka abolished the Simplified Value Added Tax (SVAT) scheme after fourteen years. The Registered Identified Supplier (RIS) and Registered Identified Purchaser (RIP) statuses were terminated, suspended-VAT credit vouchers had to be closed, and every supply moved to the standard 18% VAT regime. Exporters now recover input VAT through the new Risk-Based Refund Scheme (RBRS). This pack gives your Odoo database a controlled, auditable transition.

What this pack does

SVAT → Standard VAT remap

Scan your chart of taxes for legacy suspended-VAT items, build a remap plan that maps each one to its standard treatment (18% standard, 0% zero-rated export, or exempt), confirm the replacement tax, and retag your draft documents in one pass. Posted documents are never modified.

The scan is precise: legacy names are matched on whole words, so a hotel's "Tourism" levy, a "Paris Branch VAT" or a "Description Fee" is never mistaken for a suspended tax — and each scanned row shows which keyword matched it, so you can see a false positive before you apply anything. The suggested treatment is taken from the tax's own rate, not from a substring of its name, so a suspended supply at 10% is proposed as a standard-rated supply and not as a zero-rated export.

Every scanned tax is given a default replacement tax automatically, and Apply refuses to run while any row still lacks one — a remap that silently skipped rows and reported success is exactly what left a whole draft book on the abolished tax. The preview and the apply use one and the same filter, so the two counts always agree.

Credit-voucher register

Record the outstanding SVAT credit vouchers you issued (RIS) or received (RIP), compute the suspended tax carried by each, and track the closing state against the 31 October 2025 final-schedule deadline so nothing lapses unaccounted for. The closing state is read from today's date every time you look at it, so the Lapsed filter keeps returning your lapsed vouchers instead of going blank the day after the deadline. The VAT rate is required on each voucher — the register records pre-repeal vouchers, and a silent 18% default would inflate the reconciliation total — and a pre-repeal voucher carrying the post-repeal rate is flagged for you to check.

Risk-Based Refund planner

For exporters, record each taxable period's turnover and VAT, and the pack computes the recoverable input VAT, the export ratio, a suggested RBRS risk tier (low / medium / high) and the projected 45-day refund due date — a planning aid for your own cash flow.

Cutover-safe by design

A configurable cutover date (default 1 October 2025) scopes the remap to documents on or after the abolition. A dry-run preview shows exactly which draft lines will change before you apply anything, and validation blocks an incomplete plan.

And the transition is auditable: applying the remap writes a permanent audit-log row per document — source tax, replacement tax, line count, user and timestamp — and posts a note to each document's chatter. The transition wizard itself is restricted to the SVAT manager group. The VAT registration threshold in force (LKR 60,000,000 in twelve months or LKR 15,000,000 in one taxable period, VAT Act s.10) is shown on the company with its effective date.

Feature highlights

Area	Capability
Tax remapping	Auto-discover legacy SVAT taxes, suggest a target treatment, confirm replacement tax, bulk retag draft documents
Standard rate	Sri Lanka standard VAT rate 18%; zero-rated 0% for exports; exempt supplies handled distinctly
Credit vouchers	RIS / RIP register, suspended-tax computation, outstanding / reconciled / lapsed closing states, deadline tracking
RBRS refunds	Recoverable input VAT, export ratio, suggested risk tier, projected 45-day refund due date
Registration threshold	Built-in LKR 60M per 12 months / LKR 15M per taxable period threshold (VAT Act s.10, in force since 1 January 2024)
Safety	Cutover-date scoping, dry-run preview, plan validation, draft-only changes

Scope & boundary

This is a pure configuration and data-migration pack. It prepares your own Odoo data for the post-SVAT standard-VAT regime. It does not transmit anything to the Inland Revenue Department and is not a certified facility. The binding risk categorisation and refund decisions are made by the IRD under the RBRS; the refund planner is an internal aid only.