Mandatory VAT And SSCL Registration For Businesses Earning Over Rs. 100,000 Daily

COLOMBO (News 1st); The Inland Revenue Department states that every business with a daily turnover exceeding Rs. 100,000 must register for two types of taxes starting from 1st of July

M.G. Karunaratne, Senior Deputy Commissioner of the Inland Revenue Department’s Nuwara Eliya office, stated that, accordingly, the relevant business owners must register for the Value Added Tax (VAT) and the Social Security Contribution Levy (SSCL).

He mentioned this while participating in a program held in Rikillagaskada.

He further said that facilities have been provided for these businesses to register online.

Senior Deputy Commissioner M.G. Karunaratne added that facilities for this purpose have also been made available through regional offices.