Businesses earning over Rs. 100,000 daily must register for VAT and SSCL from July 1st (opens original article in a new tab)

Businesses in Sri Lanka with daily income exceeding Rs. 100,000 must register for VAT and SSCL from July 1st, following a reduction in the taxable turnover threshold to Rs. 36 million annually.

• Businesses with daily income over Rs. 100,000 must register for VAT and SSCL from July 1st.
• Taxable turnover threshold reduced from Rs. 60 million to Rs. 36 million annually.
• Registration can be done online or at Inland Revenue offices nationwide.