Sri Lanka – Asia (International) – FAQ

Is there a legal rule in Sri Lanka on the validity period of Giftcards?

No fixed statutory minimum or maximum validity period. Validity follows the issuer’s T&Cs; key duties arise under the Consumer Affairs Authority Act No. 9 of 2003 (information and fairness requirements).

What consumer rights apply in Sri Lanka for expired Giftcards?

No right to redemption after expiry if the period was clearly agreed. Missing or misleading information can be treated as an “unfair practice” under the CAA Act.

How are Giftcards treated for tax purposes in Sri Lanka (VAT, single-purpose / multi-purpose)?

No specific Giftcard rules. VAT (15%) is due at redemption when the specific supply occurs. The mere sale of a Giftcard is not taxable (Revenue Ruling 03/2019).

What special rules apply in Sri Lanka to the sale, issuance, or redemption of Giftcards?

Clear T&Cs and clarity on redemption terms are required. The Consumer Affairs Authority can review complaints about misleading terms or unfair fees.