Sri Lanka is imposing an 18% VAT on PayPal and Stripe as part of new tax rules for foreign services, amid IMF conditions and currency crises. The policy aims to collect VAT on financial services like PayPal and Stripe, which are exempt in countries like the UK and EU. The move risks violating IMF rules on multiple currency practices (MCPs), and Sri Lanka's chaotic tax system has led to ad hoc taxes during currency crises. The article also discusses Singapore's approach to taxing cryptocurrencies and Sri Lanka's exchange controls.

Sri Lanka's GovPay digital payment platform is expanding to onboard over 100 government organizations by September 2025, while its online traffic fine payment system is being rolled out across two provinces. The platform has processed 7,024 transactions, collecting Rs. 65.62 million in government revenue, and is supported by the Ministry of Digital Economy, ICTA, and LankaPay.

Mastercard and LankaPay have partnered to launch a co-branded debit card and enhance QR payments in Sri Lanka, aiming to improve financial inclusion, tourist experiences, and digital payment security. The collaboration includes AI-powered fraud protection and integration with Mastercard’s global services.

Mastercard and LankaPay have partnered to advance Sri Lanka's digital payments ecosystem through a co-branded debit card, AI-powered fraud detection, and low-cost QR payments for tourists and merchants. The initiative aims to boost financial inclusion, enhance security, and simplify payment experiences for locals and travelers.

Mastercard and LankaPay have partnered to boost Sri Lanka’s digital economy through co-branded cards, low-cost QR payments, and AI-powered security. The Digital Marketing Association of Sri Lanka (DMASL) announced its 2025 Digital Summit, while Life Insurance Corporation Lanka Ltd (LICL) secured a $2 billion capital infusion from its Indian parent company. A new MoU between SLIM and IDB aims to promote Sri Lankan brands and industries.