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17 April 2024


Notice to VAT paying entities



State Minister of Finance Ranjith Siyambalapitiya says that if Value Added Tax or VAT is charged to consumers, the VAT registration certificate should be displayed in their shop or establishment for everyone to see.

He also mentioned that if the VAT registration number is not displayed, there is no obstacle to the Inland Revenue Department to take legal action against the people who do not do so.

Also, the minister said that organizations with an annual tu over of 80 million per year should register for VAT.

Speaking to the media after a meeting held in Yatianthota this mo ing, he said that the current VAT payment limit of 80 million rupees is expected to be brought up to 60 million rupees very soon.
(colombotimes.lk)




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